Cibc World Market Inc. Sells 1,322 Shares of KAR Auction Services, Inc. (NYSE:KAR)

Cibc World Market Inc. lowered its position in KAR Auction Services, Inc. (NYSE:KARGet Rating) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,218 shares of the specialty retailer’s stock after selling 1,322 shares during the period. Cibc World Market Inc.’s holdings in KAR Auction Services were worth $875,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KAR. Vanguard Group Inc. grew its stake in shares of KAR Auction Services by 4.3% in the 1st 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. Marathon Asset Management Ltd boosted its stake in KAR Auction Services by 5.9% during the 2nd quarter. Marathon Asset Management Ltd now owns 5,422,179 shares of the specialty retailer’s stock valued at $80,084,000 after purchasing an additional 301,124 shares during the last quarter. Paradice Investment Management LLC boosted its stake in KAR Auction Services by 3.1% during the 2nd quarter. Paradice Investment Management LLC now owns 4,784,528 shares of the specialty retailer’s stock valued at $70,667,000 after purchasing an additional 145,133 shares during the last quarter. State Street Corp boosted its stake in KAR Auction Services by 3.7% during the 1st quarter. State Street Corp now owns 4,318,861 shares of the specialty retailer’s stock valued at $77,955,000 after purchasing an additional 153,875 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in KAR Auction Services by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,024,627 shares of the specialty retailer’s stock valued at $72,645,000 after purchasing an additional 48,098 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird lowered their price target on KAR Auction Services from $22.00 to $18.00 in a report on Thursday, November 3rd. TheStreet raised KAR Auction Services from a “d+” rating to a “c-” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. lowered their price target on KAR Auction Services from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. Finally, StockNews.com cut KAR Auction Services from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.

KAR Auction Services Price Performance

Shares of KAR Auction Services stock opened at $13.93 on Monday. KAR Auction Services, Inc. has a one year low of $11.15 and a one year high of $22.10. The stock’s fifty day moving average is $13.22 and its 200 day moving average is $14.66. The stock has a market cap of $1.52 billion, a P/E ratio of 13.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14.

KAR Auction Services 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.

See Also

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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