The Insider Selling: KAR Auction Services Inc. (KAR) EVP Sells 1,720 Shares of Stock

The Insider Selling: KAR Auction Services Inc. (KAR) EVP Sells 1,720 Shares of Stock

KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 1,720 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $46.02, for a total transaction of $79,154.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

KAR Auction Services Inc. (NYSE:KAR) traded down 1.31% during mid-day trading on Thursday, reaching $45.25. 743,790 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $43.43 and a 200-day moving average price of $42.38. KAR Auction Services Inc. has a 1-year low of $31.54 and a 1-year high of $46.13. The stock has a market cap of $6.25 billion, a P/E ratio of 27.95 and a beta of 1.36.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.03. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. The firm had revenue of $773.80 million for the quarter, compared to the consensus estimate of $770.84 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that KAR Auction Services Inc. will post $2.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Wednesday, December 21st were paid a dividend of $0.32 per share. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, December 19th. This represents a $1.28 annualized dividend and a yield of 2.83%. KAR Auction Services’s dividend payout ratio (DPR) is presently 79.01%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in KAR Auction Services by 40.3% in the second quarter. FMR LLC now owns 10,444,899 shares of the company’s stock valued at $435,970,000 after buying an additional 2,998,636 shares during the last quarter. Vanguard Group Inc. raised its position in KAR Auction Services by 3.5% in the second quarter. Vanguard Group Inc. now owns 9,964,804 shares of the company’s stock valued at $415,932,000 after buying an additional 339,126 shares during the last quarter. Wells Fargo & Company MN raised its position in KAR Auction Services by 2.9% in the third quarter. Wells Fargo & Company MN now owns 9,638,552 shares of the company’s stock valued at $416,001,000 after buying an additional 275,842 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in KAR Auction Services by 6.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,703,262 shares of the company’s stock valued at $332,473,000 after buying an additional 493,040 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in KAR Auction Services by 2.9% in the third quarter. Principal Financial Group Inc. now owns 4,844,989 shares of the company’s stock valued at $209,109,000 after buying an additional 137,692 shares during the last quarter.

Separately, Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. KAR Auction Services currently has an average rating of “Buy” and a consensus target price of $43.71.

About KAR Auction Services

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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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