CIBC Private Wealth Group LLC Has $8.25 Million Position in KAR Auction Services Inc (KAR)

CIBC Private Wealth Group LLC boosted its holdings in KAR Auction Services Inc (NYSE:KAR) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,782 shares of the specialty retailer’s stock after purchasing an additional 57,563 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.13% of KAR Auction Services worth $8,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KAR. Private Capital Group LLC increased its stake in KAR Auction Services by 32.8% during the fourth quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock worth $48,000 after acquiring an additional 245 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in KAR Auction Services during the third quarter worth about $100,000. IFP Advisors Inc increased its stake in KAR Auction Services by 13.4% during the fourth quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 199 shares during the last quarter. SG Americas Securities LLC acquired a new stake in KAR Auction Services during the fourth quarter worth about $104,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in KAR Auction Services during the fourth quarter worth about $113,000. Hedge funds and other institutional investors own 96.94% of the company’s stock.

Shares of NYSE KAR opened at $53.85 on Thursday. KAR Auction Services Inc has a 1-year low of $45.36 and a 1-year high of $64.55. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $7.26 billion, a PE ratio of 21.54, a P/E/G ratio of 1.54 and a beta of 1.19.

Several brokerages have commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. SunTrust Banks dropped their price target on KAR Auction Services to $65.00 and set a “buy” rating for the company in a research note on Monday, January 7th. ValuEngine upgraded KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Finally, Barrington Research set a $70.00 price target on KAR Auction Services and gave the stock a “buy” rating in a research note on Monday, November 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. KAR Auction Services has a consensus rating of “Buy” and a consensus target price of $64.57.

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KAR Auction Services Profile

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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

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