Brinker Capital Inc. Raises Position in KAR Auction Services Inc (NYSE:KAR)

Brinker Capital Inc. lifted its stake in KAR Auction Services Inc (NYSE:KAR) by 83.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,721 shares of the specialty retailer’s stock after buying an additional 53,901 shares during the period. Brinker Capital Inc.’s holdings in KAR Auction Services were worth $2,915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Arlington Partners LLC boosted its holdings in KAR Auction Services by 64.7% in the third quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock valued at $34,000 after purchasing an additional 550 shares during the last quarter. Captrust Financial Advisors purchased a new position in KAR Auction Services in the second quarter valued at about $42,000. San Francisco Sentry Investment Group CA boosted its holdings in KAR Auction Services by 30.6% in the third quarter. San Francisco Sentry Investment Group CA now owns 4,668 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 1,095 shares during the last quarter. Cutler Group LP boosted its holdings in KAR Auction Services by 157.0% in the second quarter. Cutler Group LP now owns 5,242 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 14,442 shares during the last quarter. Finally, AGF Investments LLC boosted its holdings in KAR Auction Services by 13.5% in the second quarter. AGF Investments LLC now owns 5,340 shares of the specialty retailer’s stock valued at $134,000 after purchasing an additional 636 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

KAR has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on KAR Auction Services in a report on Friday, June 28th. They issued an “outperform” rating for the company. SunTrust Banks reduced their price target on KAR Auction Services from $65.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 1st. Guggenheim downgraded KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Tuesday, July 2nd. JPMorgan Chase & Co. downgraded KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Monday, July 1st. Finally, ValuEngine raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.70.

Shares of NYSE KAR opened at $25.56 on Wednesday. The stock’s 50 day moving average price is $25.07 and its two-hundred day moving average price is $38.57. KAR Auction Services Inc has a 52-week low of $16.41 and a 52-week high of $28.61. The stock has a market capitalization of $3.39 billion, a P/E ratio of 8.64, a PEG ratio of 1.40 and a beta of 1.07. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). KAR Auction Services had a net margin of 7.67% and a return on equity of 19.93%. The firm had revenue of $719.00 million for the quarter, compared to analyst estimates of $692.00 million. During the same quarter in the previous year, the company earned $0.82 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that KAR Auction Services Inc will post 1.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 20th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, September 19th. KAR Auction Services’s payout ratio is currently 25.68%.

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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