KAR Auction Services Inc (KAR) Shares Sold by Paulson Wealth Management Inc.

Paulson Wealth Management Inc. trimmed its stake in KAR Auction Services Inc (NYSE:KAR) by 15.7% during the first quarter, Holdings Channel reports. The fund owned 4,167 shares of the specialty retailer’s stock after selling 778 shares during the period. Paulson Wealth Management Inc.’s holdings in KAR Auction Services were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in shares of KAR Auction Services by 13.4% in the fourth quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock valued at $79,000 after purchasing an additional 199 shares during the period. PNC Financial Services Group Inc. raised its position in shares of KAR Auction Services by 8.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,083 shares of the specialty retailer’s stock valued at $147,000 after purchasing an additional 236 shares during the period. Private Capital Group LLC raised its position in shares of KAR Auction Services by 32.8% in the fourth quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 245 shares during the period. D.A. Davidson & CO. raised its position in shares of KAR Auction Services by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 6,891 shares of the specialty retailer’s stock valued at $329,000 after purchasing an additional 282 shares during the period. Finally, Arlington Partners LLC raised its position in shares of KAR Auction Services by 70.0% in the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 350 shares during the period.

Several analysts have recently issued reports on the stock. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, February 20th. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Robert W. Baird reissued a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a research report on Wednesday, February 20th. Finally, SunTrust Banks lowered their price target on shares of KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $63.00.

KAR Auction Services stock traded up $0.34 during midday trading on Wednesday, reaching $56.52. 50,249 shares of the stock were exchanged, compared to its average volume of 1,658,430. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $7.51 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. KAR Auction Services Inc has a 52 week low of $43.32 and a 52 week high of $64.55.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $936.37 million. KAR Auction Services had a net margin of 8.70% and a return on equity of 26.46%. Research analysts forecast that KAR Auction Services Inc will post 2.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 22nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 21st. KAR Auction Services’s dividend payout ratio (DPR) is presently 47.30%.

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KAR Auction Services Company 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.

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

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