Trexquant Investment LP acquired a new position in KAR Auction Services, Inc (NYSE:KAR) during the second quarter, Holdings Channel reports. The firm acquired 17,700 shares of the specialty retailer’s stock, valued at approximately $743,000.

A number of other institutional investors have also modified their holdings of KAR. Guggenheim Capital LLC raised its position in shares of KAR Auction Services by 9.1% in the fourth quarter. Guggenheim Capital LLC now owns 17,582 shares of the specialty retailer’s stock worth $749,000 after buying an additional 1,473 shares during the period. AQR Capital Management LLC raised its position in shares of KAR Auction Services by 41.4% in the fourth quarter. AQR Capital Management LLC now owns 21,300 shares of the specialty retailer’s stock worth $908,000 after buying an additional 6,232 shares during the period. Macquarie Group Ltd. raised its position in shares of KAR Auction Services by 53.3% in the fourth quarter. Macquarie Group Ltd. now owns 93,829 shares of the specialty retailer’s stock worth $3,999,000 after buying an additional 32,610 shares during the period. Bank of Montreal Can raised its position in shares of KAR Auction Services by 71.0% in the first quarter. Bank of Montreal Can now owns 433,195 shares of the specialty retailer’s stock worth $18,918,000 after buying an additional 179,905 shares during the period. Finally, Parametrica Management Ltd acquired a new position in shares of KAR Auction Services during the first quarter worth about $238,000.

Shares of KAR Auction Services, Inc (NYSE:KAR) opened at 42.55 on Friday. The firm has a market capitalization of $5.79 billion, a P/E ratio of 26.10 and a beta of 1.12. The firm has a 50-day moving average price of $41.64 and a 200-day moving average price of $43.44. KAR Auction Services, Inc has a 52-week low of $38.16 and a 52-week high of $47.03.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $858 million during the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.56%. KAR Auction Services’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities research analysts anticipate that KAR Auction Services, Inc will post $2.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 78.53%.

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A number of equities analysts recently issued reports on KAR shares. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub lowered KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli started coverage on KAR Auction Services in a research report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $54.33.

In related news, CEO John W. Kett sold 10,011 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the sale, the chief executive officer now owns 65,982 shares of the company’s stock, valued at $2,771,903.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Kett sold 10,008 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.06, for a total transaction of $420,936.48. Following the completion of the sale, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at approximately $2,479,058.46. The disclosure for this sale can be found here. In the last three months, insiders sold 29,932 shares of company stock valued at $1,276,878. 1.30% of the stock is currently owned by company insiders.

KAR Auction Services Company Profile

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).

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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