Snyder Capital Management L P Lowers stake in KAR Auction Services Inc (KAR)

KAR Auction Services Inc (KAR) : Snyder Capital Management L P reduced its stake in KAR Auction Services Inc by 1.0% during the most recent quarter end. The investment management company now holds a total of 1,920,817 shares of KAR Auction Services Inc which is valued at $76,486,933 after selling 19,400 shares in KAR Auction Services Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.KAR Auction Services Inc makes up approximately 4.70% of Snyder Capital Management L P’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co reduced its stake in KAR by selling 18,414 shares or 70.89% in the most recent quarter. The Hedge Fund company now holds 7,563 shares of KAR which is valued at $301,159. KAR Auction Services Inc makes up approx 0.01% of Paloma Partners Management Co’s portfolio.First Trust Advisors Lp boosted its stake in KAR in the latest quarter, The investment management firm added 116,993 additional shares and now holds a total of 525,561 shares of KAR Auction Services Inc which is valued at $22,162,907. KAR Auction Services Inc makes up approx 0.07% of First Trust Advisors Lp’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in KAR by selling 1,681 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 256,408 shares of KAR which is valued at $10,812,725. KAR Auction Services Inc makes up approx 0.09% of Public Employees Retirement Association Of Colorado’s portfolio.Quantitative Investment Management reduced its stake in KAR by selling 24,900 shares or 45.94% in the most recent quarter. The Hedge Fund company now holds 29,300 shares of KAR which is valued at $1,235,581. KAR Auction Services Inc makes up approx 0.04% of Quantitative Investment Management’s portfolio.Baskin Financial Services boosted its stake in KAR in the latest quarter, The investment management firm added 11,900 additional shares and now holds a total of 118,965 shares of KAR Auction Services Inc which is valued at $5,056,013. KAR Auction Services Inc makes up approx 1.34% of Baskin Financial Services’s portfolio.

KAR Auction Services Inc opened for trading at $40.18 and hit $40.24 on the upside on Monday, eventually ending the session at $40.17, with a gain of 0.48% or 0.19 points. The heightened volatility saw the trading volume jump to 6,51,469 shares. Company has a market cap of $5,550 M.

On the company’s financial health, KAR Auction Services Inc reported $0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $0.53. The company had revenue of $773.80 million for the quarter, compared to analysts expectations of $768.59 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 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.

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