Insider Buying: KAR Auction Services, Inc. (NYSE:KAR) Director Acquires 15,300 Shares of Stock

KAR Auction Services, Inc. (NYSE:KARGet Rating) Director J Mark Howell bought 15,300 shares of KAR Auction Services stock in a transaction on Wednesday, May 11th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $198,900.00. Following the completion of the acquisition, the director now owns 15,300 shares in the company, valued at approximately $198,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

KAR opened at $13.58 on Friday. The firm’s 50 day moving average is $16.92 and its 200-day moving average is $15.78. KAR Auction Services, Inc. has a 52-week low of $11.76 and a 52-week high of $22.10. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62.

KAR Auction Services (NYSE:KARGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The specialty retailer reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The firm had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $559.77 million. KAR Auction Services had a net margin of 0.75% and a return on equity of 3.35%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. On average, sell-side analysts anticipate that KAR Auction Services, Inc. will post 0.63 EPS for the current year.

Several brokerages have recently weighed in on KAR. StockNews.com lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Friday, May 6th. TheStreet lowered shares of KAR Auction Services from a “c” rating to a “d+” rating in a report on Wednesday, May 4th. CJS Securities upgraded shares of KAR Auction Services from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, May 4th. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Finally, Northcoast Research lowered shares of KAR Auction Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Monday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.83.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of KAR Auction Services by 36.8% in the fourth quarter. BlackRock Inc. now owns 20,141,635 shares of the specialty retailer’s stock worth $314,613,000 after buying an additional 5,417,707 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of KAR Auction Services by 4.3% in the first quarter. Vanguard Group Inc. now owns 13,185,743 shares of the specialty retailer’s stock worth $238,002,000 after buying an additional 549,574 shares during the last quarter. Snyder Capital Management L P increased its stake in shares of KAR Auction Services by 4.7% in the fourth quarter. Snyder Capital Management L P now owns 6,578,317 shares of the specialty retailer’s stock worth $102,753,000 after buying an additional 292,934 shares during the last quarter. Paradice Investment Management LLC increased its stake in shares of KAR Auction Services by 17.8% in the fourth quarter. Paradice Investment Management LLC now owns 6,071,673 shares of the specialty retailer’s stock worth $94,840,000 after buying an additional 917,466 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of KAR Auction Services by 14.2% in the third quarter. American Century Companies Inc. now owns 5,797,703 shares of the specialty retailer’s stock worth $95,024,000 after buying an additional 719,088 shares during the last quarter.

KAR Auction Services Company Profile (Get Rating)

KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions 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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