KAR Auction Services Inc (NYSE:KAR) has tumbled 3.65% during the past week and has dropped 2.5% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.49%. KAR Auction Services Inc (NYSE:KAR) has underperformed the index by 3.39% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
KAR Auction Services Inc (NYSE:KAR): The stock opened at $39.75 on Friday but the bulls could not build on the opening and the stock topped out at $39.75 for the day. The stock traded down to $39.11 during the day, due to lack of any buying support eventually closed down at $39.37 with a loss of -1.40% for the day. The stock had closed at $39.93 on the previous day. The total traded volume was 1,978,662 shares.
The company shares have rallied 2.90% 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 $39.98 and the 200 Day Moving Average price is recorded at $37.19.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Vignes David, officer (EVP of Enterprise Optimization) of Kar Auction Services, Inc., had unloaded 48,505 shares at an average price of $41.52 in a transaction dated on June 9, 2016. The total value of the transaction was worth $2,013,928.
Currently the company Insiders own 1.2% of KAR Auction Services Inc shares according to the proxy statements.
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.