Ownership Action To Observe: Kar Auction Services Inc (NYSE:KAR) Institutional Investor Positioning

December 1, 2016 - By Marguerite Chambers   ·   0 Comments

Ownership Action To Observe: Kar Auction Services Inc (NYSE:KAR) Institutional Investor Positioning

Sentiment for Kar Auction Services Inc (NYSE:KAR)

Kar Auction Services Inc (NYSE:KAR) institutional sentiment decreased to 0.98 in Q2 2016. Its down -0.15, from 1.13 in 2016Q1. The ratio is negative, as 130 institutional investors increased and opened new stock positions, while 115 reduced and sold positions in Kar Auction Services Inc. The institutional investors in our partner’s database now possess: 137.98 million shares, up from 137.02 million shares in 2016Q1. Also, the number of institutional investors holding Kar Auction Services Inc in their top 10 stock positions decreased from 10 to 8 for a decrease of 2. Sold All: 20 Reduced: 95 Increased: 82 New Position: 48.

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 has a market cap of $5.90 billion. The Firm operates through three divisions: ADESA, Inc. , Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It has a 26.04 P/E ratio. The ADESA segment is a well-known provider of whole car auctions and related services to the vehicle remarketing industry in North America.

The stock closed at $42.16 during the last session. It is down 10.83% since April 28, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

Analysts await KAR Auction Services Inc (NYSE:KAR) to report earnings on February, 15. They expect $0.48 EPS, up 20.00% or $0.08 from last year’s $0.4 per share. KAR’s profit will be $67.17M for 21.96 P/E if the $0.48 EPS becomes a reality. After $0.50 actual EPS reported by KAR Auction Services Inc for the previous quarter, Wall Street now forecasts -4.00% negative EPS growth.

According to Zacks Investment Research, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana.”

Oskie Capital Management Llc holds 5.91% of its portfolio in KAR Auction Services Inc for 236,032 shares. Snyder Capital Management L P owns 1.94 million shares or 5.27% of their US portfolio. Moreover, Cardinal Capital Management Llc Ct has 4.11% invested in the company for 1.99 million shares. The New York-based Marathon Partners Equity Management Llc has invested 4.05% in the stock. Corsair Capital Management L.P., a New York-based fund reported 620,908 shares.#img1#

KAR Auction Services Inc (NYSE:KAR) Ratings Coverage

Ratings analysis reveals 83% of KAR Auction Services’s analysts are positive. Out of 6 Wall Street analysts rating KAR Auction Services, 5 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $35 while the high is $50. The stock’s average target of $41.67 is -1.16% below today’s ($42.16) share price. KAR was included in 14 notes of analysts from July 24, 2015. The rating was downgraded by Goldman Sachs on Friday, February 12 to “Neutral”. Jefferies initiated the stock with “Buy” rating in Friday, January 15 report. Jefferies maintained it with “Buy” rating and $50 target price in Thursday, August 4 report. Zacks upgraded the stock to “Buy” rating in Wednesday, September 2 report. The company was maintained on Monday, May 2 by Sterne Agee CRT. The stock has “Buy” rating given by Zacks on Monday, August 24. Zacks upgraded the stock to “Hold” rating in Friday, August 21 report. The firm has “Positive” rating given on Friday, August 26 by Susquehanna. Zacks upgraded it to “Hold” rating and $42 target price in Thursday, August 27 report. Sterne Agee CRT initiated the shares of KAR in a report on Friday, July 24 with “Buy” rating.

KAR Company Profile

KAR Auction Services, Inc., incorporated on November 9, 2006, is a well-known provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Firm operates through three divisions: ADESA, Inc. (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its approximately 240 physical auction locations, and multiple Internet venues. It facilitates the sale of over 4.4 million used and salvage vehicles. It is engaged in providing ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing. It facilitates the transfer of ownership directly from seller to buyer and it does not take title to or ownership of vehicles sold through its auctions.

More important recent KAR Auction Services Inc (NYSE:KAR) news were published by: Globenewswire.com which released: “KAR Auction Services, Inc. to Announce Third Quarter 2016 Earnings” on October 20, 2016, also Forbes.com published article titled: “Oversold Conditions For KAR Auction Services (KAR)”, Nasdaq.com published: “KAR Auction Services, Inc. Announces 5% Advance In Q3 Profit” on November 03, 2016. More interesting news about KAR Auction Services Inc (NYSE:KAR) was released by: Prnewswire.com and their article: “KAR Auction Services Extends Midwest Platform with Acquisition of Flint Auto …” with publication date: November 15, 2016.

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By Marguerite Chambers

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