D. E. Shaw & Co. Inc. Sells 21,579 Shares of OPENLANE, Inc. (NYSE:KAR)

D. E. Shaw & Co. Inc. lowered its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,301,766 shares of the specialty retailer's stock after selling 21,579 shares during the quarter. D. E. Shaw & Co. Inc. owned 1.22% of OPENLANE worth $25,827,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of OPENLANE in the 4th quarter valued at approximately $5,822,000. Hillsdale Investment Management Inc. acquired a new stake in shares of OPENLANE in the 4th quarter valued at approximately $4,115,000. Versor Investments LP acquired a new stake in shares of OPENLANE in the 4th quarter valued at approximately $254,000. JPMorgan Chase & Co. boosted its holdings in shares of OPENLANE by 119.4% in the 4th quarter. JPMorgan Chase & Co. now owns 306,038 shares of the specialty retailer's stock valued at $6,072,000 after buying an additional 166,536 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after buying an additional 138,720 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Insider Buying and Selling

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the transaction, the executive vice president now owns 36,511 shares in the company, valued at $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.51% of the stock is owned by company insiders.

OPENLANE Trading Down 0.2%

KAR stock traded down $0.05 during trading hours on Thursday, hitting $22.29. 422,686 shares of the stock were exchanged, compared to its average volume of 731,254. The firm has a market capitalization of $2.39 billion, a P/E ratio of 42.06, a P/E/G ratio of 1.85 and a beta of 1.32. The company has a 50-day simple moving average of $19.61 and a two-hundred day simple moving average of $19.91. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share 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 analysts' expectations of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on KAR. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and cut their price target for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Finally, StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th.

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.