Connor Clark & Lunn Investment Management Ltd. purchased a new position in KAR Auction Services Inc (NYSE:KAR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,075 shares of the specialty retailer’s stock, valued at approximately $260,000.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of KAR Auction Services by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 12,750,324 shares of the specialty retailer’s stock valued at $761,067,000 after buying an additional 260,521 shares in the last quarter. Boston Partners lifted its position in shares of KAR Auction Services by 4.4% during the 1st quarter. Boston Partners now owns 5,713,376 shares of the specialty retailer’s stock valued at $293,153,000 after buying an additional 243,015 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in KAR Auction Services by 3.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 3,619,199 shares of the specialty retailer’s stock worth $172,708,000 after purchasing an additional 113,050 shares in the last quarter. First Manhattan Co. lifted its holdings in KAR Auction Services by 63.5% in the 1st quarter. First Manhattan Co. now owns 3,261,519 shares of the specialty retailer’s stock worth $167,348,000 after purchasing an additional 1,266,287 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in KAR Auction Services by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,363,553 shares of the specialty retailer’s stock worth $121,274,000 after purchasing an additional 490,159 shares in the last quarter. 99.47% of the stock is owned by institutional investors.
A number of research analysts recently commented on KAR shares. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 price objective on shares of KAR Auction Services in a research note on Wednesday, February 20th. Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, February 20th. Finally, Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. KAR Auction Services has a consensus rating of “Buy” and a consensus target price of $61.50.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. KAR Auction Services had a net margin of 8.17% and a return on equity of 25.43%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. On average, equities analysts expect that KAR Auction Services Inc will post 2.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, May 31st. KAR Auction Services’s dividend payout ratio (DPR) is presently 47.30%.
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KAR Auction Services Company 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.
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