OPENLANE, Inc. (NYSE:KAR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 50.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 82,981 shares of the specialty retailer’s stock after selling 85,959 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.08% of OPENLANE worth $1,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of OPENLANE in the 4th quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its stake in OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 2,062 shares during the last quarter. KBC Group NV raised its holdings in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after purchasing an additional 1,798 shares during the period. Pacer Advisors Inc. bought a new position in shares of OPENLANE in the 4th quarter worth about $187,000. Finally, Quantessence Capital LLC acquired a new position in shares of OPENLANE in the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Trading Up 13.5 %

Shares of KAR opened at $21.75 on Friday. The business’s 50-day moving average price is $19.55 and its 200 day moving average price is $19.74. The stock has a market capitalization of $2.34 billion, a P/E ratio of 41.04, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.47.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $460.10 million during the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

KAR has been the subject of several recent research reports. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded OPENLANE from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th.

OPENLANE Profile

OPENLANE, Inc, together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.