Thomas Caruso, Chief Client Officer at KAR Auction Services Inc. (NYSE:KAR), completed a stock disposition of 8,075 shares yesterday. The Common Stock was sold directly, at a price of $30.7 per share and the insider also exercised his use of an employee stock option. This is certainly not Caruso’s first transaction, as he’s been consistently unloading batches of 8,075 shares over the past months, trailing back to the beginning of May, when the insider sold 15,000 shares for a price of $29.74 per share.
David Vignes, Executive Vice President of Enterprise Optimization, also reported a stock sale at the beginning of this month (following Caruso’s trend), disposing of 39,570 shares of Common Stock for a price of $32.50 per share.
However, in spite of the latest stock dispositions, hedge funds have remained stable this quarter, with Daniel S. Och’s Oz Management maintaining its position as the largest shareholder. The hedge fund holds a total of 6.2 million shares, with a value of $190.3 million.