Kar Auction Services, Inc. (KAR): John C Hammer , President and CEO of AFC of Kar Auction Services, Inc. sold 32,000 shares on Jun 3, 2016. The Insider selling transaction was reported by the company on Jun 6, 2016 to the Securities and Exchange Commission. The shares were sold at $40.83 per share for a total value of $1,306,563.25 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on 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.Also, On May 13, 2016, Warren W Byrd (EVP of Corp Dev & Real Estate) sold 3,700 shares at $39.63 per share price.On May 11, 2016, Hilaire Stephane St. (President and CEO of ADESA) sold 59,355 shares at $39.40 per share price.
Shares of KAR Auction Services Inc (KAR) ended Friday, Jun 3, 2016 session in red amid volatile trading. The shares closed down -0.32 points or -0.78% at $40.96 with 6,14,428 shares getting traded. Post opening the session at $41.15, the shares hit an intraday low of $40.7 and an intraday high of $41.15 and the price vacillated in this range throughout the day. The company has a market cap of $5,625 M and the number of outstanding shares has been calculated to be 13,73,40,510 shares. The 52-week high of KAR Auction Services Inc is $41.55 and the 52-week low is $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.