Kar Auction Services, Inc. (KAR): John C Hammer , President and CEO of AFC of Kar Auction Services, Inc. sold 16,666 shares on May 9, 2016. The Insider selling transaction was reported by the company on May 11, 2016 to the Securities and Exchange Commission. The shares were sold at $39.33 per share for a total value of $655,477.12 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 11, 2016, Warren W Byrd (EVP of Corp Dev & Real Estate) sold 1,300 shares at $39.45 per share price.On May 11, 2016, Thomas J. Caruso (Chief Client Officer) sold 20,000 shares at $39.64 per share price.Also, On Apr 14, 2016, John C Hammer (President and CEO of AFC) sold 7,500 shares at $39.00 per share price.On Mar 8, 2016, Kelly Peter (CTO & Pres of Digital Srvs Grp) sold 15,000 shares at $36.22 per share price.
KAR Auction Services Inc: On Tuesday, May 10, 2016 heightened volatility was witnessed in KAR Auction Services Inc which led to swings in the share price. The shares opened for trading at $39.38 and hit $39.78 on the upside , eventually ending the session at $39.76, with a gain of 1.14% or 0.45 points. The heightened volatility saw the trading volume jump to 12,06,809 shares. The 52-week high of the share price is $40.06 and the company has a market cap of $5,461 M . The 52-week low of the share price is at $31.54.
Company has been under the radar of several Street Analysts.KAR Auction Services Inc is Reiterated by Sterne Agee CRT to Buy while Lowering the Price Target of the company shares to $ 44 from a previous price target of $46 . The Rating was issued on May 2, 2016.KAR Auction Services Inc is Downgraded by Goldman to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Feb 12, 2016.
KAR Auction Services Inc. is a provider of vehicle auction services in North America. We operate as three reportable business segments: ADESA Inc. (ADESA Auctions) Insurance Auto Auctions Inc. (IAA) and Automotive Finance Corporation (AFC). ADESA Auctions is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. IAA is a provider of salvage vehicle auctions and related services. AFC is a provider of floorplan financing to independent used vehicle dealers. The Company provides auction services for sellers of used or whole car vehicles and salvage vehicles through a network of around 233 physical auction locations including 65 whole car auction locations and 168 salvage auction locations and multiple Internet venues. It also offers ancillary services including transportation reconditioning inspections marshalling titling and floorplan financing.