Brown Advisory Inc. Grows Stake in OPENLANE, Inc. (NYSE:KAR)

Brown Advisory Inc. raised its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,538,477 shares of the specialty retailer's stock after buying an additional 323,696 shares during the period. Brown Advisory Inc. owned about 2.37% of OPENLANE worth $48,942,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Burgundy Asset Management Ltd. raised its stake in OPENLANE by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock worth $184,085,000 after buying an additional 153,975 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of OPENLANE by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer's stock valued at $29,641,000 after acquiring an additional 35,164 shares during the period. Northern Trust Corp boosted its holdings in OPENLANE by 3.5% in the fourth quarter. Northern Trust Corp now owns 1,366,918 shares of the specialty retailer's stock valued at $27,120,000 after purchasing an additional 46,041 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in OPENLANE by 14.5% in the fourth quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer's stock valued at $17,550,000 after purchasing an additional 111,798 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in OPENLANE by 7.7% in the fourth quarter. Invesco Ltd. now owns 866,013 shares of the specialty retailer's stock valued at $17,182,000 after purchasing an additional 61,762 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KAR. Bank of America increased their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, Wall Street Zen upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Insiders Place Their Bets

In other news, EVP James P. Coyle sold 7,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 2.32% of the stock is currently owned by corporate insiders.

OPENLANE Stock Performance

NYSE KAR opened at $25.02 on Wednesday. The firm has a market cap of $2.69 billion, a PE ratio of 37.91, a P/E/G ratio of 3.26 and a beta of 1.41. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $25.86. The firm's fifty day moving average is $22.67 and its two-hundred day moving average is $20.99.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The business had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a net margin of 7.15% and a return on equity of 10.38%. The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. Research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.

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