Macquarie Group Ltd. Has $7.17 Million Stake in KAR Auction Services, Inc. (NYSE:KAR)

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. lowered its holdings in KAR Auction Services, Inc. (NYSE:KAR – Get Rating) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 641,259 shares of the specialty retailer’s stock after selling 926 shares during the quarter. Macquarie Group Ltd. owned about 0.59% of KAR Auction Services worth $7,170,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in KAR. Royal Bank of Canada lifted its position in KAR Auction Services by 165.8% during the 3rd quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer’s stock worth $30,000 after buying an additional 1,686 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of KAR Auction Services in the 2nd quarter valued at $27,000. Yousif Capital Management LLC lifted its stake in shares of KAR Auction Services by 1.7% during the first quarter. Yousif Capital Management LLC now owns 111,272 shares of the specialty retailer’s stock valued at $2,008,000 after acquiring an additional 1,820 shares during the period. Texas Permanent School Fund boosted its holdings in KAR Auction Services by 2.3% in the second quarter. Texas Permanent School Fund now owns 87,841 shares of the specialty retailer’s stock valued at $1,297,000 after acquiring an additional 1,948 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in KAR Auction Services by 1.9% in the first quarter. Great West Life Assurance Co. Can now owns 107,209 shares of the specialty retailer’s stock worth $1,987,000 after purchasing an additional 2,031 shares during the period.

KAR Auction Services Price Performance

KAR opened at $13.90 on Tuesday. The stock has a market cap of $1.51 billion, a P/E ratio of 11.39 and a beta of 1.47. KAR Auction Services, Inc. has a 12 month low of $11.15 and a 12 month high of $19.05. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $13.70.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stephens restated an “equal weight” rating and set a $13.00 target price on shares of KAR Auction Services in a research report on Wednesday, February 22nd. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of KAR Auction Services in a research note on Thursday, February 23rd. StockNews.com upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. Finally, Bank of America lowered KAR Auction Services from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $23.00 to $17.00 in a research report on Monday, January 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.17.

About KAR Auction Services

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KAR Auction Services, Inc engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.