Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of KAR Auction Services, Inc. (NYSE:KAR – Get Rating) by 74.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,000 shares of the specialty retailer’s stock after selling 11,961 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in KAR Auction Services were worth $59,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in KAR Auction Services by 228.8% in the 2nd quarter. US Bancorp DE now owns 2,946 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 2,050 shares in the last quarter. Counterpoint Mutual Funds LLC increased its holdings in KAR Auction Services by 133.1% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 8,599 shares of the specialty retailer’s stock valued at $127,000 after acquiring an additional 4,910 shares during the last quarter. KBC Group NV bought a new stake in shares of KAR Auction Services in the 2nd quarter worth about $158,000. Bailard Inc. bought a new stake in shares of KAR Auction Services in the 2nd quarter worth about $173,000. Finally, Strs Ohio purchased a new position in shares of KAR Auction Services during the 2nd quarter worth about $175,000.
KAR Auction Services Price Performance
Shares of NYSE KAR opened at $13.29 on Friday. KAR Auction Services, Inc. has a 52 week low of $11.15 and a 52 week high of $22.10. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.29 and a beta of 1.51. The firm has a 50-day simple moving average of $13.24 and a 200-day simple moving average of $14.64. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.
Wall Street Analysts Forecast Growth
KAR Auction Services Company Profile
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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