A company insider recently bought 5,000 shares of KAR Auction Services Inc. [KAR]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. KAR Auction Services Inc. shares valued at $73,500 were purchased by Kestner Michael T. on May 19. At $14.70 per share, Kestner Michael T. acquired 5,000 shares. The insider’s holdings grew to 10,922 shares worth approximately $0.18 million following the completion of this transaction.


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Also, HALLETT JAMES P purchased 100,000 shares, netting a total of over 1,315,000 in proceeds. Following the buying of shares at $13.15 each, the insider now holds 626,142 shares.

Before that, HOWELL J MARK had added 15,300 shares to its account. In a trade valued at $198,900, the Director bought KAR Auction Services Inc. shares for $13.00 each. Upon closing the transaction, the insider’s holdings increased to 15,300 shares, worth approximately $0.25 million.

As published in a research note from CJS Securities on May 04, 2022, KAR Auction Services Inc. [KAR] has been rated up from a Market perform to a Market outperform and the price target has been revised to $20. This represents a 18.85% premium over Thursday’s closing price. Analysts at Northcoast downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of February 25, 2022, Guggenheim has increased its “Sell” rating to a “Neutral” for KAR. Earlier on May 21, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for KAR stock which previously was a “an Underperform”.

Analyzing KAR’s Price Performance

On Thursday, KAR Auction Services Inc. [NYSE: KAR] rose 1.44% to $16.23. The stock’s lowest price that day was $15.77, but it reached a high of $16.265 in the same session. During the last five days, there has been a drop of approximately -4.53%. Over the course of the year, KAR Auction Services Inc. shares have jumped approximately 3.91%. Shares of the company reached a 52-week high of $22.10 on 02/25/22 and a 52-week low of $11.76 on 02/11/22. A 50-day SMA is recorded $15.87, while a 200-day SMA reached $15.73. Nevertheless, trading volume fell to 1.59 million shares from 1.92 million shares the previous day.

Support And Resistance Levels for KAR Auction Services Inc. (KAR)

According to the 24-hour chart, there is a support level at 15.91, which, if violated, would cause prices to drop to 15.59. In the upper region, resistance lies at 16.41. The next price resistance is at 16.58. RSI (Relative Strength Index) is 50.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 64.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is KAR Auction Services Inc. subject to short interest?

Stocks of KAR Auction Services Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 60000.0 shares to 7.82 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.88 million shares. A decline of -0.77% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.34 of the overall float, the days-to-cover ratio (short ratio) decline to 10.34.

Which companies own the most shares of KAR Auction Services Inc. (KAR)?

According to BlackRock Fund Advisors filings, the company currently owns 18,018,888 shares, which is about 14.83% of the total KAR shares outstanding. The investor’s shares have plunged by -376,692 from its previous 13-F filing of 18395580.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $191,502,414. Burgundy Asset Management Ltd. acquire a 35.81% interest valued at $106.96 million while Cardinal Capital Management LLC sold a -211,695 stake. A total of -407,830 shares of KAR Auction Services Inc. were sold by Marathon Asset Management Ltd. during the quarter, and -1,621,236 were sold by Snyder Capital Management LP. In its current portfolio, Paradice Investment Management LL holds 4,784,528 shares valued at $70.67 million.

In terms of KAR Auction Services Inc. share price expectations, FactSet research, analysts set an average price target of $21.57 in the next 12 months, up nearly 37.5% from the previous closing price of $16.00. Analysts anticipate KAR Auction Services Inc. stock to reach $28.00 by 2022, with the lowest price target being $14.00. In spite of this, 9 analysts ranked KAR Auction Services Inc. stock as an Overweight at the end of 2022. On February 18, 2021, Stephens assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $16.

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