KAR Auction Services Inc (KAR) : Sarasin Partners Llp reduced its stake in KAR Auction Services Inc by 11.53% during the most recent quarter end. The investment management company now holds a total of 1,809,341 shares of KAR Auction Services Inc which is valued at $78,561,586 after selling 235,703 shares in KAR Auction Services Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.KAR Auction Services Inc makes up approximately 1.25% of Sarasin Partners Llp’s portfolio.
Other Hedge Funds, Including , Creative Planning boosted its stake in KAR in the latest quarter, The investment management firm added 182 additional shares and now holds a total of 1,216 shares of KAR Auction Services Inc which is valued at $52,543.Legal General Group Plc boosted its stake in KAR in the latest quarter, The investment management firm added 11,799 additional shares and now holds a total of 54,758 shares of KAR Auction Services Inc which is valued at $2,366,093. Fox Run Management L.l.c. sold out all of its stake in KAR during the most recent quarter. The investment firm sold 7,000 shares of KAR which is valued $302,470. Washington Trust Bank added KAR to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $702.
KAR Auction Services Inc opened for trading at $43.6 and hit $43.63 on the upside on Friday, eventually ending the session at $43.42, with a gain of 0.28% or 0.12 points. The heightened volatility saw the trading volume jump to 4,73,644 shares. Company has a market cap of $5,989 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.
Many Wall Street Analysts have commented on KAR Auction Services Inc. KAR Auction Services Inc was Initiated by Susquehanna to “Positive” on Aug 26, 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.