GSA Capital Partners LLP Takes $1.33 Million Position in OPENLANE, Inc. (NYSE:KAR)

GSA Capital Partners LLP purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 69,044 shares of the specialty retailer's stock, valued at approximately $1,331,000. GSA Capital Partners LLP owned approximately 0.06% of OPENLANE as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the 4th quarter valued at $34,000. Quarry LP grew its stake in shares of OPENLANE by 414.6% during the fourth 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 during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of OPENLANE during the first quarter valued at about $51,000. Johnson Financial Group Inc. purchased a new position in shares of OPENLANE in the fourth quarter worth about $68,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock valued at $69,000 after acquiring an additional 590 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

OPENLANE Stock Performance

Shares of NYSE KAR traded down $0.30 during trading hours on Friday, hitting $24.34. The company's stock had a trading volume of 712,229 shares, compared to its average volume of 887,205. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $26.03. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 2.72 and a beta of 1.40. The business has a 50-day simple moving average of $24.05 and a 200-day simple moving average of $21.59.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data 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 10.38% and a net margin of 7.15%. The business had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. During the same quarter last year, the business posted $0.19 EPS. The business's revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America raised their price target on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, OPENLANE presently has a consensus rating of "Moderate Buy" and an average price target of $24.00.

OPENLANE Company 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.