KAR Auction Services Inc (KAR) Stake Raised by Guggenheim Capital LLC

Guggenheim Capital LLC increased its stake in KAR Auction Services Inc (NYSE:KAR) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,582 shares of the specialty retailer’s stock after buying an additional 1,473 shares during the period. Guggenheim Capital LLC’s holdings in KAR Auction Services were worth $749,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of KAR Auction Services by 13.2% in the fourth quarter. FMR LLC now owns 14,655,022 shares of the specialty retailer’s stock valued at $624,597,000 after buying an additional 1,706,490 shares in the last quarter. Marshall Wace LLP raised its position in shares of KAR Auction Services by 163.5% in the fourth quarter. Marshall Wace LLP now owns 1,895,389 shares of the specialty retailer’s stock valued at $80,782,000 after buying an additional 1,176,124 shares in the last quarter. Incline Global Management LLC bought a new position in shares of KAR Auction Services during the third quarter valued at approximately $30,589,000. Frontier Capital Management Co. LLC raised its position in shares of KAR Auction Services by 28.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,158,996 shares of the specialty retailer’s stock valued at $134,636,000 after buying an additional 694,455 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in shares of KAR Auction Services during the third quarter valued at approximately $21,229,000.

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

Shares of KAR Auction Services Inc (NYSE:KAR) opened at 43.50 on Friday. The firm’s 50-day moving average is $43.75 and its 200-day moving average is $43.49. KAR Auction Services Inc has a 12-month low of $35.68 and a 12-month high of $47.03. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 27.19 and a beta of 1.35.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, February 21st. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.03. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. The firm had revenue of $813.70 million for the quarter, compared to analyst estimates of $786.70 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts forecast that KAR Auction Services Inc will post $2.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 4th. Stockholders of record on Wednesday, March 22nd were given a dividend of $0.32 per share. The ex-dividend date was Monday, March 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.94%. KAR Auction Services’s payout ratio is currently 79.01%.

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Several equities analysts have recently commented on KAR shares. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Friday, March 10th. Wolfe Research started coverage on shares of KAR Auction Services in a report on Thursday, March 2nd. They issued an “outperform” rating on the stock. Finally, Gabelli started coverage on shares of KAR Auction Services in a report on Friday, April 7th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $49.00.

In related news, EVP Benjamin Skuy sold 15,040 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $44.98, for a total value of $676,499.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Kett sold 8,321 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $43.36, for a total transaction of $360,798.56. Following the completion of the sale, the chief executive officer now directly owns 35,966 shares in the company, valued at $1,559,485.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,961 shares of company stock worth $2,219,668. 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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