Balyasny Asset Management L.P. Trims Position in OPENLANE, Inc. (NYSE:KAR)

Balyasny Asset Management L.P. lowered its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 43.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,292 shares of the specialty retailer's stock after selling 16,310 shares during the quarter. Balyasny Asset Management L.P.'s holdings in OPENLANE were worth $422,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bastion Asset Management Inc. acquired a new stake in shares of OPENLANE during the 4th quarter worth approximately $3,891,000. Comerica Bank grew its position in OPENLANE by 9.3% during the fourth quarter. Comerica Bank now owns 63,942 shares of the specialty retailer's stock valued at $1,269,000 after buying an additional 5,437 shares during the period. PDT Partners LLC increased its holdings in OPENLANE by 8.5% in the fourth quarter. PDT Partners LLC now owns 42,169 shares of the specialty retailer's stock valued at $837,000 after buying an additional 3,317 shares in the last quarter. Lido Advisors LLC raised its position in shares of OPENLANE by 34.6% in the fourth quarter. Lido Advisors LLC now owns 15,058 shares of the specialty retailer's stock worth $299,000 after acquiring an additional 3,870 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of OPENLANE by 3.5% during the 4th quarter. Northern Trust Corp now owns 1,366,918 shares of the specialty retailer's stock worth $27,120,000 after acquiring an additional 46,041 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Insider Transactions at OPENLANE

In related news, EVP James P. Coyle sold 7,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $21.72, for a total transaction of $152,040.00. Following the completion of the sale, the executive vice president now owns 36,511 shares of the company's stock, valued at approximately $793,018.92. This represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.51% of the company's stock.

OPENLANE Trading Down 0.0%

NYSE:KAR traded down $0.01 during trading hours on Tuesday, hitting $22.45. 651,949 shares of the stock were exchanged, compared to its average volume of 731,681. The firm's fifty day moving average price is $19.69 and its 200 day moving average price is $20.10. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.86. The company has a market cap of $2.41 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Equities analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Stephens raised shares of 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 research note on Friday, February 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st.

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.