Large Outflow of Money Witnessed in KAR Auction Services Inc

KAR Auction Services Inc (KAR) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($8 million) and the uptick to downtick ratio was 0.42. The transaction value on upticks was $5.72 million and on downticks, the transaction value was $13.72 million. In block trades, the transaction value of inflow done during uptick was $0.65 million. The transaction value of block trades during downticks was $9.36 million. The uptick to downtick block trade ratio was 0.07. The money flow was negative ($8.71 million), indicating the traders were booking profit on the price strength. KAR Auction Services Inc (KAR) rose $0.63 at $42.98, during intraday Friday , a rise of 1.49% over the previous days close.


KAR Auction Services Inc (KAR) : The most positive equity analysts on KAR Auction Services Inc (KAR) expects the shares to touch $55, whereas, the least positive believes that the stock will trade at $43 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $47.5 with an expected fluctuation of $4.41 from the mean.

KAR Auction Services Inc (NYSE:KAR): stock turned positive on Friday. Though the stock opened at $42.42, the bulls momentum made the stock top out at $43.27 level for the day. The stock recorded a low of $42.3 and closed the trading day at $42.98, in the green by 1.49%. The total traded volume for the day was 1,185,913. The stock had closed at $42.35 in the previous days trading.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the Officer (Chief Client Officer) of KAR Auction Services, Inc., Caruso Thomas J. had sold 48,860 shares worth of $2,010,100 in a transaction dated June 29, 2016. In this transaction, 48,860 shares were sold at $41.14 per share.

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.