Gotham Asset Management LLC Purchases 14,686 Shares of OPENLANE, Inc. (NYSE:KAR)

Gotham Asset Management LLC lifted its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,080 shares of the specialty retailer's stock after buying an additional 14,686 shares during the quarter. Gotham Asset Management LLC owned about 0.06% of OPENLANE worth $1,172,000 as of its most recent filing with the SEC.

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

Insider Transactions at OPENLANE

In other 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 transaction of $152,040.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.51% of the company's stock.

Wall Street Analyst Weigh In

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

OPENLANE Price Performance

KAR traded down $0.30 on Friday, hitting $22.11. The company had a trading volume of 602,523 shares, compared to its average volume of 731,198. The company's fifty day moving average price is $19.83 and its 200 day moving average price is $20.21. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.86. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last posted its earnings results 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. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $460.10 million during the quarter, compared to analyst estimates of $445.70 million. During the same period in the previous year, the company earned $0.19 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

About OPENLANE

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.