Published on 24 Apr 2023 on Insider Monkey via Yahoo Finance
Should You Invest in KAR Auction Services (KAR) Now?
White Brook Capital Partners, an investment management firm, released its first-quarter investor letter. The same can be downloaded here. In the first quarter, the fund underperformed and was down 2.33% compared to the Midcap 400 Index’s 3.81% and the S&P 500 Index’s 7.49% returns. In January and February, the portfolio performed well, however, it suffered banking sector declines later. In addition, please check the fund’s top five holdings to know its best picks in 2023.
White Brook Capital highlighted stocks like KAR Auction Services, Inc. (NYSE:KAR) in the first quarter 2023 investor letter. Headquartered in Carmel, Indiana, KAR Auction Services, Inc. (NYSE:KAR) provides an online marketplace for used vehicles. On April 21, 2023, KAR Auction Services, Inc. (NYSE:KAR) stock closed at $13.59 per share. One-month return of KAR Auction Services, Inc. (NYSE:KAR) was 7.52%, and its shares lost 16.98% of their value over the last 52 weeks. KAR Auction Services, Inc. (NYSE:KAR) has a market capitalization of $1.484 billion.
White Brook Capital made the following comment about KAR Auction Services, Inc. (NYSE:KAR) in its Q1 2023 investor letter: