Cadence Capital Management LLC trimmed its position in shares of KAR Auction Services Inc (NYSE:KAR) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,097 shares of the specialty retailer’s stock after selling 1,441 shares during the period. Cadence Capital Management LLC’s holdings in KAR Auction Services were worth $712,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Archford Capital Strategies LLC grew its stake in KAR Auction Services by 832.0% during the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after buying an additional 832 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in KAR Auction Services during the fourth quarter worth about $103,000. SG Americas Securities LLC acquired a new stake in KAR Auction Services during the fourth quarter worth about $105,000. Cerebellum GP LLC acquired a new stake in KAR Auction Services during the fourth quarter worth about $127,000. Finally, KBC Group NV grew its stake in KAR Auction Services by 81.5% during the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after buying an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

In other news, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lisa A. Price sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,563 shares of company stock worth $1,448,530. 1.30% of the stock is currently owned by corporate insiders.

Shares of KAR Auction Services Inc (NYSE KAR) opened at $50.26 on Wednesday. KAR Auction Services Inc has a one year low of $40.27 and a one year high of $55.19. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market cap of $6,696.96, a P/E ratio of 29.56, a PEG ratio of 1.69 and a beta of 1.10.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, February 7th. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, November 2nd. Stephens set a $57.00 price objective on shares of KAR Auction Services and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. KAR Auction Services has a consensus rating of “Buy” and a consensus target price of $54.40.

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KAR Auction Services Company Profile

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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