Acquired by James B. Hallett holds 100,000 shares of KAR Auctioneers’ stock (NYSE: KAR)


KAR Auction Services, Inc. (NYSE: KAR – Get Rating) Chairman James P. Hallett bought 100,000 shares of the company’s stock in a transaction that took place on Wednesday, May 11th. The shares were purchased at an average price of $13.15 per share, for a total transaction of $1,315,000,000.00. Following the completion of the acquisition, the Chairman now directly owns 626,142 shares in the company, valued at $8,233,767.30. The purchase was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this hyperlink.

KAR shares opened at $13.58 on Friday. The company has a 50-day moving average of $16.92 and a 200-day moving average of $15.78. Register KAR Auction Services, Inc. The 52-week low was at $11.76 and the 52-week high was at $22.10. The company’s quick ratio is 1.21, the trading ratio is 1.21, and the debt-to-equity ratio is 0.62.

KAR Auction Services NYSE: KAR – Get Rating announced its quarterly earnings results on Tuesday, May 3rd. The specialty retailer reported earnings ($0.02) per share for the quarter, missing the consensus estimate of $0.13 ($0.15). KAR Auction Services had a return on equity of 3.35% and a net margin of 0.75%. The company generated $369.40 million in revenue for the quarter, compared to analyst expectations of $559.77 million. During the same period in the previous year, the company reported $0.45 in earnings per share. KAR Auction Services’ first-quarter revenue decreased 0.1% year over year. As a group, sell-side analysts expect KAR Auction Services, Inc. Earnings per share of 0.63 for the current fiscal year.

Large investors have recently bought and sold shares. GSA Capital Partners LLP bought a new stake in KAR Auction Services during the third quarter valued at approximately $4,596,000. Barclays plc raised its position in Car Auction Services by 55.5% during the third quarter. Barclays PLC now owns 19,756 shares of the specialty retailer stock valued at $3,241,000 after acquiring an additional 70,552 shares during the last quarter. The New York State Teachers’ Retirement System raised its position in Carr’s Real Estate Auction Services by 84.1% during the fourth quarter. The New York State Teachers’ Retirement System now owns 64,967 shares of the specialty retailer’s stock, valued at $1,015,000 after acquiring an additional 29,669 shares during the last quarter. Trexquant Investment LP bought a new stake in KAR Auction Services during the third quarter valued at approximately $387,000. Finally, Candlestick Capital Management LP bought a new stake in KAR Auction Services during the third quarter valued at approximately $15,161,000.
KAR has been the subject of several analyst reports. TheStreet lowered the stock of KAR Auction Services from a “c” rating to a “d+” rating in a report on Wednesday, May 4th. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. StockNews.com lowered KAR Auction Services’ stock rating from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. CJS Securities upgraded shares of KAR Auction Services from a “market performer” rating to a “outperform” rating and set a $20.00 target price per share in a research note on Wednesday, May 4th. Finally, Guggenheim upgraded shares of KAR Auction Services from a “sell” rating to a “neutral” rating in a research note on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.83.

KAR Auction Services Company Profile (Get Rating)

KAR Auction Services, Inc., along with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services to the auto industry in the United States, Europe, Canada, Mexico and the United Kingdom. The company operates through two divisions, ADESA Auctions and AFC. The ADESA Auctions division offers full auto auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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