KAR Auction Services Inc (KAR) : Traders are bullish on KAR Auction Services Inc (KAR) as it has outperformed the S&P 500 by a margin of 0.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.68% in the last 1 week, and is up 7.05% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
KAR Auction Services Inc (NYSE:KAR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.42 and $42.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $43.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.98, notching a gain of 1.49% for the day. The total traded volume was 1,185,913 . The stock had closed at $42.35 on the previous day.
The stock has recorded a 20-day Moving Average of 3.16% and the 50-Day Moving Average is 5.53%. KAR Auction Services, Inc. is up 12.73% in the last 3-month period. Year-to-Date the stock performance stands at 17.84%.
KAR Auction Services, Inc. is a provider of vehicle auction services in North America. We operate as three reportable business segments: ADESA, Inc. (ADESA Auctions), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). ADESA Auctions is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. IAA is a provider of salvage vehicle auctions and related services. AFC is a provider of floorplan financing to independent used vehicle dealers. The Company provides auction services for sellers of used, or whole car, vehicles and salvage vehicles through a network of around 233 physical auction locations, including 65 whole car auction locations and 168 salvage auction locations, and multiple Internet venues. It also offers ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing.