Frontier Capital Management Co. LLC Boosts Stake in KAR Auction Services Inc (KAR)

Frontier Capital Management Co. LLC lifted its stake in KAR Auction Services Inc (NYSE:KAR) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,641,292 shares of the specialty retailer’s stock after acquiring an additional 76,299 shares during the quarter. KAR Auction Services makes up 1.0% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 22nd biggest holding. Frontier Capital Management Co. LLC owned 1.95% of KAR Auction Services worth $133,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of KAR. Archford Capital Strategies LLC increased its stake in shares of KAR Auction Services by 832.0% in the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after acquiring an additional 832 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of KAR Auction Services in the second quarter worth $118,000. KBC Group NV increased its stake in shares of KAR Auction Services by 81.5% in the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after acquiring an additional 1,211 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of KAR Auction Services by 105.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after acquiring an additional 2,087 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of KAR Auction Services by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 363 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on KAR. Stephens set a $57.00 price target on shares of KAR Auction Services and gave the stock a “hold” rating in a research note on Wednesday. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Wednesday, November 1st. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. KAR Auction Services presently has a consensus rating of “Buy” and a consensus target price of $54.60.

In other news, EVP Lisa A. Price sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $51.18, for a total value of $511,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were 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. Insiders have sold 32,000 shares of company stock worth $1,575,200 over the last three months. Company insiders own 1.30% of the company’s stock.

KAR Auction Services Inc (NYSE:KAR) traded down $0.02 during trading on Thursday, reaching $53.35. 601,100 shares of the company’s stock traded hands, compared to its average volume of 748,445. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $7,219.09, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. KAR Auction Services Inc has a 52-week low of $40.27 and a 52-week high of $53.84.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The firm had revenue of $843.00 million for the quarter, compared to the consensus estimate of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The business’s quarterly 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. equities research analysts forecast that KAR Auction Services Inc will post 2.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, December 19th. KAR Auction Services’s dividend payout ratio is presently 82.35%.

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KAR Auction Services 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).

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

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