Short Interest Update on KAR Auction Services Inc (KAR)

KAR Auction Services Inc (KAR) : 1 days before expiry, shorts in KAR Auction Services Inc (KAR) have reduced from 1,614,678 on Jul 29, 2016, to 1,133,762 on August 15, 2016. On an average, 1,830,005 shares are traded on the exchange. The outstanding bearish positions are equal to 0.8% of the float. Short sellers have covered -480,916 shares, a reduction of -29.8%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

KAR Auction Services Inc (NYSE:KAR): The stock opened at $42.16 on Wednesday but the bulls could not build on the opening and the stock topped out at $42.38 for the day. The stock traded down to $42.06 during the day, due to lack of any buying support eventually closed down at $42.25 with a loss of -0.05% for the day. The stock had closed at $42.27 on the previous day. The total traded volume was 758,116 shares.


In a related news,The officer (Chief Operating Officer) of Kar Auction Services, Inc., Gottwald Donald S. sold 18,125 shares at $40.38 on August 10, 2016. The Insider selling transaction had a total value worth of $731,888. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

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