KAR Auction Services, Inc. (NYSE:KAR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in KAR Auction Services, Inc. (NYSE:KAR – Get Rating) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133,819 shares of the specialty retailer’s stock after buying an additional 6,028 shares during the quarter. Victory Capital Management Inc.’s holdings in KAR Auction Services were worth $16,622,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. City State Bank acquired a new position in KAR Auction Services during the fourth quarter worth $34,000. Counterpoint Mutual Funds LLC acquired a new position in KAR Auction Services during the first quarter worth $67,000. Bridgefront Capital LLC acquired a new position in KAR Auction Services during the fourth quarter worth $207,000. Profund Advisors LLC acquired a new position in KAR Auction Services during the fourth quarter worth $211,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in KAR Auction Services during the fourth quarter worth $223,000.

Wall Street Analyst Weigh In

KAR has been the subject of several research reports. TheStreet cut KAR Auction Services from a “c” rating to a “d+” rating in a report on Wednesday, May 4th. Robert W. Baird reduced their price objective on KAR Auction Services from $25.00 to $22.00 in a report on Thursday, May 5th. CJS Securities raised KAR Auction Services from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Wednesday, May 4th. Finally, StockNews.com raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.67.

Insider Buying and Selling at KAR Auction Services

In related news, Director Michael T. Kestner acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were acquired at an average cost of $14.70 per share, for a total transaction of $73,500.00. Following the acquisition, the director now directly owns 10,922 shares in the company, valued at approximately $160,553.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael T. Kestner acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were acquired at an average cost of $14.70 per share, for a total transaction of $73,500.00. Following the acquisition, the director now directly owns 10,922 shares in the company, valued at approximately $160,553.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman James P. Hallett acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were bought at an average price of $13.15 per share, for a total transaction of $1,315,000.00. Following the completion of the acquisition, the chairman now owns 626,142 shares in the company, valued at $8,233,767.30. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 166,258 shares of company stock worth $2,189,450. Corporate insiders own 2.00% of the company’s stock.

KAR Auction Services Price Performance

NYSE:KAR opened at $16.28 on Friday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 15.50 and a beta of 1.33. The company has a current ratio of 1.13, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $15.88 and its two-hundred day moving average is $15.87. KAR Auction Services, Inc. has a 12-month low of $11.76 and a 12-month high of $22.10.

KAR Auction Services (NYSE:KAR – Get Rating) last released its earnings results on Tuesday, May 3rd. The specialty retailer reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.17). The firm had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $559.77 million. KAR Auction Services had a net margin of 11.64% and a return on equity of 2.17%. KAR Auction Services’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. Research analysts expect that KAR Auction Services, Inc. will post 0.41 EPS for the current year.

KAR Auction Services Company Profile

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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.