Ameriprise Financial Inc. Has $6.52 Million Position in OPENLANE, Inc. (NYSE:KAR)

Ameriprise Financial Inc. lowered its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,356 shares of the specialty retailer's stock after selling 35,176 shares during the quarter. Ameriprise Financial Inc. owned about 0.31% of OPENLANE worth $6,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in shares of OPENLANE in the fourth quarter valued at approximately $34,000. Quarry LP increased its stake in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 1,758 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of OPENLANE by 435.9% in 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 period. Johnson Financial Group Inc. acquired a new stake in shares of OPENLANE in the fourth quarter valued at approximately $68,000. Finally, KBC Group NV increased its stake in shares of OPENLANE by 51.1% in the fourth 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 period. Institutional investors and hedge funds own 99.76% of the company's stock.

Insider Buying and Selling

In related news, EVP James P. Coyle sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the transaction, the executive vice president now owns 36,511 shares of the company's stock, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.51% of the company's stock.

OPENLANE Stock Up 0.0%

NYSE:KAR traded up $0.01 during trading hours on Wednesday, reaching $22.76. 25,805 shares of the company's stock were exchanged, compared to its average volume of 725,064. The company has a market capitalization of $2.44 billion, a P/E ratio of 42.95, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.86. The business's 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $20.27.

OPENLANE (NYSE:KAR - Get Free Report) last issued 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 firm had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KAR shares. Wall Street Zen upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $26.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. Finally, Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st.

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.