KAR Auction Services Inc (NYSE:KAR) Shares Sold by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB cut its stake in KAR Auction Services Inc (NYSE:KAR) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,925 shares of the specialty retailer’s stock after selling 3,500 shares during the period. Xact Kapitalforvaltning AB’s holdings in KAR Auction Services were worth $1,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in KAR Auction Services by 13.4% during the 4th quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 199 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in KAR Auction Services by 8.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,083 shares of the specialty retailer’s stock worth $147,000 after acquiring an additional 236 shares in the last quarter. D.A. Davidson & CO. grew its holdings in KAR Auction Services by 4.3% during the 4th quarter. D.A. Davidson & CO. now owns 6,891 shares of the specialty retailer’s stock worth $329,000 after acquiring an additional 282 shares in the last quarter. Arlington Partners LLC grew its holdings in KAR Auction Services by 70.0% during the 1st quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 350 shares in the last quarter. Finally, FTB Advisors Inc. grew its holdings in KAR Auction Services by 75.9% during the 1st quarter. FTB Advisors Inc. now owns 1,038 shares of the specialty retailer’s stock worth $53,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 99.47% of the company’s stock.

KAR has been the topic of several recent research reports. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 31st. ValuEngine upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird reiterated a “buy” rating and set a $56.00 target price on shares of KAR Auction Services in a report on Wednesday, February 20th. Finally, Barrington Research reiterated a “buy” rating on shares of KAR Auction Services in a report on Wednesday, February 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. KAR Auction Services currently has an average rating of “Buy” and a consensus target price of $61.50.

Shares of KAR stock traded down $0.42 during mid-day trading on Tuesday, hitting $60.18. 7,052 shares of the stock traded hands, compared to its average volume of 1,000,526. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.13 and a beta of 1.06. KAR Auction Services Inc has a 52-week low of $43.32 and a 52-week high of $64.55. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.17 and a current ratio of 1.17.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, equities analysts predict that KAR Auction Services Inc will post 2.93 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, May 31st. KAR Auction Services’s payout ratio is 47.30%.

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About KAR Auction Services

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

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