Vaughan Nelson Investment Management buys $145,770,485 stake in KAR Auction Services Inc (KAR)

KAR Auction Services Inc (KAR) : Vaughan Nelson Investment Management scooped up 32,250 additional shares in KAR Auction Services Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 3,572,806 shares of KAR Auction Services Inc which is valued at $145,770,485.KAR Auction Services Inc makes up approximately 1.77% of Vaughan Nelson Investment Management’s portfolio.

Other Hedge Funds, Including , Fmr boosted its stake in KAR in the latest quarter, The investment management firm added 2,998,636 additional shares and now holds a total of 10,444,899 shares of KAR Auction Services Inc which is valued at $426,151,879. KAR Auction Services Inc makes up approx 0.06% of Fmr’s portfolio.Blackrock Japan Ltd boosted its stake in KAR in the latest quarter, The investment management firm added 1,678 additional shares and now holds a total of 3,636 shares of KAR Auction Services Inc which is valued at $148,349.Thompson Siegel Walmsley reduced its stake in KAR by selling 80 shares or 16.0% in the most recent quarter. The Hedge Fund company now holds 420 shares of KAR which is valued at $17,140.Gamco Investors Et Al reduced its stake in KAR by selling 2,000 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 456,700 shares of KAR which is valued at $18,637,927. KAR Auction Services Inc makes up approx 0.12% of Gamco Investors Et Al’s portfolio.Rice Hall James Associates boosted its stake in KAR in the latest quarter, The investment management firm added 21,238 additional shares and now holds a total of 56,594 shares of KAR Auction Services Inc which is valued at $2,426,185. KAR Auction Services Inc makes up approx 0.13% of Rice Hall James Associates’s portfolio.

KAR Auction Services Inc opened for trading at $41.87 and hit $42.53 on the upside on Tuesday, eventually ending the session at $42.27, with a gain of 0.96% or 0.4 points. The heightened volatility saw the trading volume jump to 11,54,877 shares. Company has a market cap of $5,831 M.

On the company’s financial health, KAR Auction Services Inc reported $0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.56. The company had revenue of $771.80 million for the quarter, compared to analysts expectations of $754.30 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Investors should note that on Aug 2, 2016, KAR Auction Services Inc announced a cash dividend of $0.2900. The company’s management has announced Sep 19, 2016 as the ex-dividend date and fixed the record date on Sep 21, 2016. The payable date has been fixed on Oct 4, 2016.

Many Wall Street Analysts have commented on KAR Auction Services Inc. KAR Auction Services Inc was Downgraded by Northcoast to ” Neutral” on Jul 14, 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.

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