California Public Employees Retirement System Has $8.47 Million Stock Position in KAR Auction Services Inc (NYSE:KAR)

California Public Employees Retirement System raised its position in shares of KAR Auction Services Inc (NYSE:KAR) by 55.8% in the 3rd quarter, Holdings Channel reports. The firm owned 344,948 shares of the specialty retailer’s stock after acquiring an additional 123,494 shares during the period. California Public Employees Retirement System’s holdings in KAR Auction Services were worth $8,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Arlington Partners LLC grew its stake in shares of KAR Auction Services by 64.7% in the third quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of KAR Auction Services in the second quarter worth $42,000. San Francisco Sentry Investment Group CA grew its stake in shares of KAR Auction Services by 30.6% in the third quarter. San Francisco Sentry Investment Group CA now owns 4,668 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 1,095 shares during the last quarter. Cutler Group LP grew its stake in shares of KAR Auction Services by 157.0% in the second quarter. Cutler Group LP now owns 5,242 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 14,442 shares during the last quarter. Finally, Red Cedar Capital LLC grew its stake in shares of KAR Auction Services by 263.3% in the third quarter. Red Cedar Capital LLC now owns 54,002 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 39,139 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

Shares of KAR Auction Services stock opened at $21.90 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.36. KAR Auction Services Inc has a twelve month low of $16.41 and a twelve month high of $28.61. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 1.30 and a beta of 1.06. The company’s fifty day moving average is $24.25 and its 200 day moving average is $35.42.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.04). The business had revenue of $701.90 million during the quarter, compared to the consensus estimate of $697.46 million. KAR Auction Services had a return on equity of 16.67% and a net margin of 6.95%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. As a group, equities analysts anticipate that KAR Auction Services Inc will post 1.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 3.47%. KAR Auction Services’s dividend payout ratio (DPR) is currently 25.68%.

Several brokerages recently weighed in on KAR. CJS Securities cut shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Zacks Investment Research cut shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. KAR Auction Services presently has an average rating of “Hold” and a consensus target price of $33.58.

In other news, Director Mark E. Hill purchased 18,500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $21.50 per share, with a total value of $397,750.00. Following the completion of the transaction, the director now owns 48,200 shares of the company’s stock, valued at approximately $1,036,300. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

KAR Auction Services Profile

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, 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: Retained Earnings

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

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