Cipher Capital LP Has $2.75 Million Holdings in KAR Auction Services, Inc (KAR)

Cipher Capital LP decreased its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,585 shares of the specialty retailer’s stock after selling 17,799 shares during the quarter. Cipher Capital LP’s holdings in KAR Auction Services were worth $2,749,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KAR. Archford Capital Strategies LLC increased its stake in shares of KAR Auction Services by 832.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 832 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of KAR Auction Services in the 2nd quarter valued at $118,000. PNC Financial Services Group Inc. increased its stake in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 2,087 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of KAR Auction Services by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 363 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in shares of KAR Auction Services in the 2nd quarter valued at $214,000. Institutional investors own 98.57% of the company’s stock.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total transaction of $481,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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Shares of KAR Auction Services, Inc (NYSE KAR) traded up $0.17 during mid-day trading on Monday, reaching $47.70. 661,300 shares of the company’s stock were exchanged, compared to its average volume of 956,799. The company has a market cap of $6,452.13, a price-to-earnings ratio of 20.83, a PEG ratio of 1.50 and a beta of 1.08. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. KAR Auction Services, Inc has a fifty-two week low of $39.75 and a fifty-two week high of $49.38.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. The business had revenue of $843.00 million during the quarter, compared to analyst estimates of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. KAR Auction Services’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. research analysts anticipate that KAR Auction Services, Inc will post 2.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 19th. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s payout ratio is 75.29%.

Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. J P Morgan Chase & Co lifted their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, November 8th. Gabelli lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Thursday, November 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of KAR Auction Services in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. KAR Auction Services presently has an average rating of “Buy” and a consensus target price of $52.20.

KAR Auction Services Company Profile

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).

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

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