David M. Markowitz decreased its stake in Kar Auction Svcs Inc (KAR) by 35.94% based on its latest 2016Q3 regulatory filing with the SEC. Oskie Capital Management Llc sold 84,828 shares as the company’s stock rose 3.06% with the market. The hedge fund run by David M. Markowitz held 151,204 shares of the consumer durables company at the end of 2016Q3, valued at $6.53M, down from 236,032 at the end of the previous reported quarter. Oskie Capital Management Llc who had been investing in Kar Auction Svcs Inc for a number of months, seems to be less bullish one the $6.28B market cap company. The stock is down 0.18% or $0.08 after the negative news, hitting $45.26 per share. About 562,547 shares traded hands. KAR Auction Services Inc (NYSE:KAR) has risen 9.65% since June 7, 2016 and is uptrending. It has outperformed by 2.23% the S&P500.
Oskie Capital Management Llc, which manages about $208.69 million and $182.42M US Long portfolio, upped its stake in Northstar Rlty Fin Corp by 392,847 shares to 552,847 shares, valued at $7.28M in 2016Q3, according to the filing.
Oskie Capital Management Llc is a New York-based hedge fund that was founded by David M. Markowitz. It had more than $208.69 million assets under management in March, 2014. Taken from Oskie Capital Management latest Adv, the fund reported to have 5 full and part-time employees. Among which 4 performing investment advisory and research functions. The hedge fund had between 1-10 clients.
Insitutional Activity: The institutional sentiment decreased to 0.98 in Q3 2016. Its down 0.09, from 1.07 in 2016Q2. The ratio turned negative, as 35 funds sold all KAR shares owned while 92 reduced positions. 38 funds bought stakes while 87 increased positions. They now own 137.39 million shares or 3.82% more from 132.33 million shares in 2016Q2. Invesco Ltd last reported 1.09M shares in the company. The California-based California Public Employees Retirement Sys has invested 0.01% in KAR Auction Services Inc (NYSE:KAR). Nelson Van Denburg Campbell Wealth Lc holds 0% or 100 shares in its portfolio. State Street last reported 0.01% of its portfolio in the stock. Waddell And Reed reported 138,220 shares or 0.01% of all its holdings. Coe Cap Management Ltd Co has invested 0% of its portfolio in KAR Auction Services Inc (NYSE:KAR). Twin Tree L P, a Texas-based fund reported 60,588 shares. Ig Invest Management Limited, a Manitoba – Canada-based fund reported 131,300 shares. Moreover, Mawer Mgmt has 0.09% invested in KAR Auction Services Inc (NYSE:KAR) for 189,360 shares. Bailard Inc holds 42,080 shares or 0.17% of its portfolio. Renaissance Ltd Liability Corporation has 0.04% invested in the company for 586,100 shares. Kbc Group Nv holds 0.02% or 39,088 shares in its portfolio. Blackrock Group accumulated 100,734 shares or 0% of the stock. Pitcairn holds 0.04% or 6,892 shares in its portfolio. State Of Wisconsin Board has 88,136 shares for 0.01% of their US portfolio.
Analysts await KAR Auction Services Inc (NYSE:KAR) to report earnings on February, 15. They expect $0.48 EPS, up 20.00% or $0.08 from last year’s $0.4 per share. KAR’s profit will be $66.60M for 23.57 P/E if the $0.48 EPS becomes a reality. After $0.50 actual EPS reported by KAR Auction Services Inc for the previous quarter, Wall Street now forecasts -4.00% negative EPS growth.
More important recent KAR Auction Services Inc (NYSE:KAR) news were published by: Nasdaq.com which released: “KAR Auction Services, Inc (KAR) Ex-Dividend Date Scheduled for December 19, 2016” on December 16, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: KAR Auction Services, Cincinnati Financial and …”, Forbes.com published: “Oversold Conditions For KAR Auction Services (KAR)” on November 04, 2016. More interesting news about KAR Auction Services Inc (NYSE:KAR) was released by: Moodys.com and their article: “Moody’s assigns Ba3 rating to KAR’s new credit facilities; B1 CFR affirmed” with publication date: March 04, 2016.
According to Zacks Investment Research, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana.”
KAR Auction Services Inc (NYSE:KAR) Ratings Coverage
Out of 6 analysts covering KAR Auction Services (NYSE:KAR), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. KAR Auction Services has been the topic of 14 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, February 12 by Goldman Sachs. The firm has “Buy” rating by Sterne Agee CRT given on Monday, May 2. The rating was maintained by Jefferies with “Buy” on Thursday, August 4. As per Friday, August 26, the company rating was initiated by Susquehanna. Zacks upgraded the stock to “Hold” rating in Thursday, August 27 report. The firm has “Buy” rating given on Monday, January 18 by Jefferies. The firm has “Hold” rating by Zacks given on Friday, August 21. The stock of KAR Auction Services Inc (NYSE:KAR) earned “Buy” rating by Zacks on Monday, August 24. Jefferies initiated KAR Auction Services Inc (NYSE:KAR) rating on Friday, January 15. Jefferies has “Buy” rating and $45.0 price target. The stock of KAR Auction Services Inc (NYSE:KAR) earned “Buy” rating by Sterne Agee CRT on Friday, July 24.
KAR Company Profile
KAR Auction Services, Inc., incorporated on November 9, 2006, is a well-known provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Firm operates through three divisions: ADESA, Inc. (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its approximately 240 physical auction locations, and multiple Internet venues. It facilitates the sale of over 4.4 million used and salvage vehicles. It is engaged in providing ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing. It facilitates the transfer of ownership directly from seller to buyer and it does not take title to or ownership of vehicles sold through its auctions.
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