OPENLANE, Inc. (NYSE:KAR) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lowered its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,462 shares of the specialty retailer’s stock after selling 1,418 shares during the period. Tower Research Capital LLC TRC’s holdings in OPENLANE were worth $89,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KAR. Canada Pension Plan Investment Board acquired a new position in shares of OPENLANE during the 4th quarter valued at about $34,000. Smartleaf Asset Management LLC raised 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 worth $51,000 after purchasing an additional 2,062 shares during the period. KBC Group NV boosted its holdings in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,798 shares during the last quarter. Pacer Advisors Inc. acquired a new position in OPENLANE in the 4th quarter valued at about $187,000. Finally, Versor Investments LP purchased a new stake in shares of OPENLANE in the 4th quarter valued at approximately $254,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on KAR shares. JPMorgan Chase & Co. cut OPENLANE from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, StockNews.com raised shares of OPENLANE from a “hold” rating to a “buy” rating in a research report on Friday.

OPENLANE Stock Up 0.4 %

NYSE:KAR opened at $21.85 on Friday. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47. The stock’s fifty day moving average is $19.55 and its two-hundred day moving average is $19.78. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $460.10 million for 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%. OPENLANE’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

About OPENLANE

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.