Sei Investments Co. Lowers Position in KAR Auction Services, Inc (KAR)
Sei Investments Co. reduced its position in KAR Auction Services, Inc (NYSE:KAR) by 21.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 103,218 shares of the specialty retailer’s stock after selling 28,097 shares during the period. Sei Investments Co. owned 0.08% of KAR Auction Services worth $4,927,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in KAR. Teachers Advisors LLC raised its stake in KAR Auction Services by 5.9% in the 1st quarter. Teachers Advisors LLC now owns 141,976 shares of the specialty retailer’s stock valued at $6,200,000 after acquiring an additional 7,927 shares during the period. Aperio Group LLC raised its stake in KAR Auction Services by 59.3% in the 2nd quarter. Aperio Group LLC now owns 29,982 shares of the specialty retailer’s stock valued at $1,258,000 after acquiring an additional 11,160 shares during the period. Boston Financial Mangement LLC bought a new stake in KAR Auction Services in the 2nd quarter valued at about $7,439,000. Harbour Capital Advisors LLC raised its stake in KAR Auction Services by 3,333.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 28,330 shares of the specialty retailer’s stock valued at $675,000 after acquiring an additional 27,505 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of KAR Auction Services by 11.9% during the second quarter. Great West Life Assurance Co. Can now owns 781,125 shares of the specialty retailer’s stock valued at $32,717,000 after buying an additional 82,937 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, November 8th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Thursday, November 2nd. J P Morgan Chase & Co upped their price target on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a research report on Tuesday, September 12th. Finally, Stephens cut KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $51.00 to $48.00 in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. KAR Auction Services presently has a consensus rating of “Buy” and a consensus target price of $52.20.
Shares of KAR Auction Services, Inc (NYSE:KAR) opened at $48.82 on Monday. KAR Auction Services, Inc has a 52-week low of $40.27 and a 52-week high of $49.38. The firm has a market capitalization of $6,603.64, a PE ratio of 21.32, a PEG ratio of 1.54 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The firm had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. sell-side analysts predict that KAR Auction Services, Inc will post 2.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 19th. KAR Auction Services’s dividend payout ratio is 75.29%.
In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Benjamin Skuy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This article was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.watchlistnews.com/sei-investments-co-lowers-position-in-kar-auction-services-inc-kar/1729087.html.
About KAR Auction Services
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.