KAR Auction Services, Inc. (NYSE:KAR) recovered 50.57% of its value since hitting low of $16.39. The recent move of -0.32% drop pushed the stock to close at $24.68 when trading ended on 7/11/2019. At a recent session, the prices were hovering between $23.93 and $24.77. This company shares are 168.11% off its target price of $66.17 and the current market capitalization stands at $8.17B. The recent change has given its price a 10.12% lead over SMA 50 and -5.08% deficit over its 52-week high. The stock witnessed 8.55% gains, 24.43% gains and 34.29% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found KAR’s volatility during a week at 2.85% and during a month it has been found around 2.48%.
What Does KAR Auction Services, Inc. (KAR) Do?
The company describes itself in regulatory filings as, “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 three segments: ADESA Auctions, Insurance Auto Auctions (IAA), and Automotive Finance Corporation (AFC). The ADESA segment provides whole care auctions and related services to the vehicle remarketing industry in North America. The IAA segment provides damaged and total loss claim solutions and salvage vehicle auctions.The AFC segment provides floor plan financing to independent used vehicle dealers. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.” [Text can be found here: https://www.marketwatch.com/investing/stock/KAR/profile under company description.]KAR Auction Services, Inc. (KAR) Top Holders
Institutional investors currently hold around $3.31 billion or 0% in KAR stock. Look at its top three institutional owners: Vanguard Group Inc owns $326.95 million in KAR Auction Services, Inc., which represents roughly 4% of the company’s market cap and approximately 9.88% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 10,730,329 shares of the stock are valued at $265.68 million. The third largest holder is Boston Partners, which currently holds $141.46 million worth of this stock and that ownership represents nearly 1.73% of its market capitalization.
At the end of March reporting period, 228 institutional holders increased their position in KAR Auction Services, Inc. (NYSE:KAR) by some 29,264,508 shares, 187 decreased positions by 27,868,653 and 52 held positions by 76,531,905. That puts total institutional holdings at 133,665,066 shares, according to SEC filings. The stock grabbed 71 new institutional investments totaling 10,059,386 shares while 63 institutional investors sold out their entire positions totaling 8,525,818 shares.KAR Auction Services, Inc. (NYSE:KAR) Insider Trades
Multiple company employees have indulged in significant insider trading. KAR Auction Services, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that COO & Chief Strategy Officer Gottwald Donald S. has sold 10,000 shares of KAR Auction Services, Inc. (KAR) in the trading session dated Sep. 12, 2018. These shares are worth $629,800 and were traded at $62.98 each. The SEC filing shows that Skuy Benjamin performed a sale of 59,560 shares. The EVP of Intl Mrkts & Strat Init disposed these shares by way of transaction on Aug. 31, 2018. The company’s shares were given away at $62.74 per share worth to an income of some $3,736,794 to the account of Skuy Benjamin.
AFC President, Money James E. II, sold 32,000 common shares of KAR Auction Services, Inc. (KAR) in the open market. In a transaction dated Aug. 20, 2018, the shares were put up for sale at an average price of $62.57, raking in a sum of $2,002,240. After this sale, 9,619 common shares of KAR are directly owned by the insider, with total stake valued at $237,407.
In the transaction dated Aug. 14, 2018, a great number of shares sold came courtesy the COO & Chief Strategy Officer; Gottwald Donald S. disposed a total of 10,000 shares at an average price of $61.53, amounting to approximately $615,300. The insider now directly owns 22,978 shares worth $567,097.KAR Auction Services, Inc. (KAR) Analyst Guide
Several analysts have released their opinion on KAR Auction Services, Inc. (NYSE:KAR), with 4 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 4 buy, 0 sell and 1 strong sell ratings, collectively assigning a 2.17 average brokerage recommendation [T1].