Kar Auction Services, Inc. (KAR): David Vignes , EVP of Enterprise Optimization of Kar Auction Services, Inc. sold 48,505 shares on Jun 9, 2016. The Insider selling transaction was reported by the company on Jun 10, 2016 to the Securities and Exchange Commission. The shares were sold at $41.52 per share for a total value of $2,013,840.25 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 7, 2016, Kelly Peter (CTO & Pres of Digital Srvs Grp) sold 15,000 shares at $41.00 per share price.On Jun 6, 2016, John C Hammer (President and CEO of AFC) sold 32,000 shares at $40.83 per share price.Also, On May 24, 2016, David Vignes (EVP of Enterprise Optimization) sold 5,429 shares at $40.55 per share price.On May 19, 2016, Donald S. Gottwald (Chief Operating Officer) sold 12,500 shares at $40.00 per share price.
KAR Auction Services Inc: On Thursday, Jun 9, 2016 heightened volatility was witnessed in KAR Auction Services Inc which led to swings in the share price. The shares opened for trading at $41.01 and hit $41.58 on the upside , eventually ending the session at $41.52, with a gain of 0.53% or 0.22 points. The heightened volatility saw the trading volume jump to 15,55,232 shares. The 52-week high of the share price is $41.58 and the company has a market cap of $5,702 M . The 52-week low of the share price is at $31.54.
On May 3, 2016, KAR Auction Services Inc announced a cash dividend of $0.2900. The company’s management has announced Jun 20, 2016 as the ex-dividend date and fixed the record date on Jun 22, 2016. The payable date has been fixed on Jul 5, 2016.
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 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.