Great Lakes Advisors LLC Sells 17,755 Shares of KAR Auction Services, Inc. (NYSE:KAR)

Great Lakes Advisors LLC cut its stake in KAR Auction Services, Inc. (NYSE:KAR) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252,011 shares of the specialty retailer’s stock after selling 17,755 shares during the period. Great Lakes Advisors LLC’s holdings in KAR Auction Services were worth $4,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of KAR Auction Services by 176.6% in the first quarter. Janus Henderson Group PLC now owns 4,935,384 shares of the specialty retailer’s stock valued at $74,031,000 after purchasing an additional 3,150,931 shares in the last quarter. Boston Partners lifted its stake in KAR Auction Services by 66.6% in the 1st quarter. Boston Partners now owns 4,346,591 shares of the specialty retailer’s stock valued at $65,487,000 after acquiring an additional 1,737,379 shares in the last quarter. Teacher Retirement System of Texas boosted its position in KAR Auction Services by 97.1% during the 1st quarter. Teacher Retirement System of Texas now owns 3,253,248 shares of the specialty retailer’s stock worth $48,799,000 after acquiring an additional 1,602,633 shares during the last quarter. Investment Counselors of Maryland LLC boosted its position in KAR Auction Services by 101.8% during the 1st quarter. Investment Counselors of Maryland LLC now owns 2,563,647 shares of the specialty retailer’s stock worth $38,455,000 after acquiring an additional 1,293,347 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of KAR Auction Services by 8.8% during the 1st quarter. BlackRock Inc. now owns 15,535,503 shares of the specialty retailer’s stock worth $233,031,000 after acquiring an additional 1,250,797 shares in the last quarter.

KAR Auction Services stock opened at $15.66 on Friday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 0.69 and a beta of 1.53. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.23. KAR Auction Services, Inc. has a 12 month low of $13.55 and a 12 month high of $20.85. The stock’s 50 day moving average is $16.95 and its 200-day moving average is $16.74.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Monday, August 2nd. The specialty retailer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). KAR Auction Services had a net margin of 4.03% and a return on equity of 9.71%. The firm had revenue of $585.40 million during the quarter, compared to analyst estimates of $596.75 million. As a group, equities research analysts predict that KAR Auction Services, Inc. will post 0.95 earnings per share for the current fiscal year.

Separately, Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.57.

KAR Auction Services Profile

KAR Auction Services, Inc engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.

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

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