Nisa Investment Advisors LLC grew its holdings in KAR Auction Services Inc (NYSE:KAR) by 49.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,590 shares of the specialty retailer’s stock after purchasing an additional 2,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in KAR Auction Services were worth $453,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of KAR. Townsend & Associates Inc acquired a new stake in shares of KAR Auction Services in the second quarter valued at about $120,000. Bruderman Asset Management LLC acquired a new stake in KAR Auction Services during the second quarter worth about $121,000. Tower Research Capital LLC TRC grew its position in KAR Auction Services by 1,334.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,199 shares of the specialty retailer’s stock worth $175,000 after buying an additional 2,976 shares in the last quarter. Iberiabank Corp acquired a new stake in KAR Auction Services during the third quarter worth about $206,000. Finally, Mutual Advisors LLC acquired a new stake in KAR Auction Services during the second quarter worth about $215,000. 99.38% of the stock is currently owned by institutional investors.
KAR has been the topic of a number of recent research reports. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Stephens reissued a “hold” rating and set a $60.00 target price on shares of KAR Auction Services in a research report on Thursday, August 9th. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. They noted that the move was a valuation call. Finally, Robert W. Baird lifted their target price on KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. KAR Auction Services presently has an average rating of “Buy” and a consensus price target of $61.88.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $956.60 million during the quarter, compared to analysts’ expectations of $923.01 million. KAR Auction Services had a net margin of 11.50% and a return on equity of 26.15%. On average, sell-side analysts predict that KAR Auction Services Inc will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Thursday, September 20th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, September 19th. KAR Auction Services’s dividend payout ratio is 56.00%.
In other KAR Auction Services news, CEO James P. Hallett sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $62.11, for a total transaction of $9,316,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 277,560 shares of company stock valued at $17,295,354. Corporate insiders own 1.29% of the company’s stock.
KAR Auction Services Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
See Also: Determine Your Level of Risk Tolerance
Want to see what other hedge funds are holding KAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KAR Auction Services Inc (NYSE:KAR).
Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.