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

Brown Advisory Inc. grew its stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 14.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,538,477 shares of the specialty retailer's stock after acquiring an additional 323,696 shares during the quarter. Brown Advisory Inc. owned about 2.37% of OPENLANE worth $48,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its stake in shares of OPENLANE by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock valued at $184,085,000 after acquiring an additional 153,975 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of OPENLANE by 2.4% during 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 last quarter. Northern Trust Corp increased 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 valued at $27,120,000 after acquiring an additional 46,041 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of OPENLANE by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer's stock valued at $17,550,000 after acquiring an additional 111,798 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of OPENLANE by 7.7% during the 4th quarter. Invesco Ltd. now owns 866,013 shares of the specialty retailer's stock valued at $17,182,000 after acquiring an additional 61,762 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. 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 report on Monday, June 16th. Finally, JPMorgan Chase & Co. downgraded shares of 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

OPENLANE Price Performance

NYSE KAR traded down $0.52 on Friday, reaching $24.96. The company had a trading volume of 917,324 shares, compared to its average volume of 758,576. The firm has a market capitalization of $2.68 billion, a PE ratio of 37.81, a P/E/G ratio of 3.21 and a beta of 1.41. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $26.04. The firm has a 50-day moving average of $23.06 and a 200-day moving average of $21.09.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly 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 return on equity of 10.38% and a net margin of 7.15%. OPENLANE's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the company'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 transaction, the executive vice president owned 36,511 shares in the company, valued at $793,018.92. This represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

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.