D. E. Shaw & Co. Inc. Trims Position in OPENLANE, Inc. (NYSE:KAR)

D. E. Shaw & Co. Inc. lowered its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 approximately 1.22% of OPENLANE worth $25,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in shares of OPENLANE during the 4th quarter valued at about $34,000. Quarry LP boosted its position in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after acquiring an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of OPENLANE during the 4th quarter valued at about $68,000. Finally, KBC Group NV boosted its position in shares of OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after acquiring an additional 1,798 shares during the last quarter. Institutional investors own 99.76% of the company's stock.

OPENLANE Stock Performance

NYSE:KAR traded down $0.01 during mid-day trading on Friday, reaching $22.28. The stock had a trading volume of 428,099 shares, compared to its average volume of 732,850. The firm has a 50 day moving average price of $19.66 and a two-hundred day moving average price of $20.02. The stock has a market capitalization of $2.39 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The company 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%. OPENLANE's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Research analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Insider Buying and Selling at OPENLANE

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the sale, the executive vice president now owns 36,511 shares in the company, valued at approximately $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KAR. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, StockNews.com upgraded OPENLANE from a "hold" rating to a "buy" rating in a research 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.