Harbour Capital Advisors LLC boosted its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 3,333.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,330 shares of the specialty retailer’s stock after buying an additional 27,505 shares during the period. Harbour Capital Advisors LLC’s holdings in KAR Auction Services were worth $675,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its position in shares of KAR Auction Services by 75.0% in the first quarter. K.J. Harrison & Partners Inc now owns 35,000 shares of the specialty retailer’s stock valued at $1,528,000 after buying an additional 15,000 shares during the last quarter. First Manhattan Co. boosted its position in shares of KAR Auction Services by 2.8% in the first quarter. First Manhattan Co. now owns 739,485 shares of the specialty retailer’s stock valued at $31,916,000 after buying an additional 20,360 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of KAR Auction Services by 50.7% in the first quarter. Nisa Investment Advisors LLC now owns 8,290 shares of the specialty retailer’s stock valued at $362,000 after buying an additional 2,790 shares during the last quarter. Cohen Capital Management Inc. bought a new position in shares of KAR Auction Services during the first quarter valued at about $2,402,000. Finally, Atria Investments LLC bought a new position in shares of KAR Auction Services during the first quarter valued at about $285,000.
KAR Auction Services, Inc (NYSE KAR) opened at 44.59 on Thursday. The firm’s 50-day moving average is $41.85 and its 200-day moving average is $43.38. KAR Auction Services, Inc has a 12 month low of $38.16 and a 12 month high of $47.03. The stock has a market cap of $6.12 billion, a P/E ratio of 27.36 and a beta of 1.12.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $858 million during the quarter, compared to the consensus estimate of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, equities analysts forecast that KAR Auction Services, Inc will post $2.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.87%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s payout ratio is currently 78.53%.
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Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Finally, Gabelli assumed coverage on shares of KAR Auction Services in a research note on Tuesday, July 4th. They set a “buy” rating and a $62.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.33.
In other KAR Auction Services news, CEO John W. Kett sold 10,008 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.06, for a total transaction of $420,936.48. Following the sale, the chief executive officer now owns 58,941 shares in the company, valued at approximately $2,479,058.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John W. Kett sold 10,011 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now owns 65,982 shares in the company, valued at approximately $2,771,903.82. The disclosure for this sale can be found here. Insiders sold 29,932 shares of company stock valued at $1,276,878 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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