KAR Auction Services Inc June 15th Short Interest Update

KAR Auction Services Inc (NYSE:KAR) has shown a rise of 17.2% or 340,146 shares in the short positions. The bets have increased to 2,317,221 shares on June 15,2016 from 1,977,075 shares on May 31,2016. With respect to the floated shares, the shorts are 1.7%. The days to cover are calculated to be 2, using the standard per day volume of 944,542 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

KAR Auction Services Inc (NYSE:KAR): The stock opened at $39.70 on Friday but the bulls could not build on the opening and the stock topped out at $40.56 for the day. The stock traded down to $39.70 during the day, due to lack of any buying support eventually closed down at $40.15 with a loss of -1.54% for the day. The stock had closed at $40.78 on the previous day. The total traded volume was 3,363,205 shares.

The company shares have rallied 7.73% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $41.58 and the one year low was seen on Jan 29, 2016. The 50-Day Moving Average price is $40.29 and the 200 Day Moving Average price is recorded at $37.25.

Stocks of KAR Auction Services Inc (NYSE:KAR) rallied by 1.98% during the past week but lost 2.62% on a 4-week basis. In the past week, the company has outperformed the S&P 500 by 3.67% and the outperformance has advanced to 0.33% for the last 4 weeks period.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.