Stock News Buzz: KAR Auction Services, Inc. (NYSE: KAR)

KAR Auction Services, Inc. (NYSE: KAR) stock recorded a change of 1.35% away from 50 day moving average and -7.08% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.52% off 20-day moving average. The stock recently spotted trading -19.43% off 52-week high price. On the other end, the stock has been noted 14.66% away from low price over the last 52-weeks. It has market cap of $7018.23M and dividend yield of 2.69%.

KAR Auction Services, Inc. (NYSE: KAR) reported the completion of its acquisition of Belgium-based CarsOnTheWeb (COTW). The acquisition advances KAR’s international strategy and extends its North American and U.K.-based portfolio to Continental Europe. COTW provides a robust online wholesale vehicle auction marketplace that seamlessly connects OEMs, fleet owners, wholesalers and dealers in more than 50 countries.

With sales operations in Belgium, France, Germany, Italy, the Netherlands and Spain, COTW provides sellers in these countries and buyers across Europe with a wide range of vehicle auction, transportation and related support services. COTW provides comprehensive, VAT-compliant payment, document transfer and post-sale processes supporting the 97 percent of customer transactions that involve cross-border sales.

COTW will operate as a wholly-owned subsidiary of KAR and will retain COTW’s current operating locations, employees and key COTW leadership and management team members. The transaction is valued at approximately 91 million euros in cash and up to an additional 65 million euros over a specified period contingent on certain terms, conditions and COTW performance.

 The USA based company KAR Auction Services moved with change of 0.02% to $52.01 with the total traded volume of 530624 shares in recent session versus to an average volume of 921.47K. The stock was observed in the 5 days activity at 0.19%. The one month performance of stock was 8.99%. KAR’s shares are at -6.09% for the quarter and driving a -4.38% return over the course of the past year and is now at 8.99% since this point in 2018.   Right now the stock beta is 1.24. The average volatility for the week and month was at 1.29% and 2.00% respectively. There are 134.94M shares outstanding and 133.88M shares are floated in market.

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