GSA Capital Partners LLP Makes New $1.33 Million Investment in OPENLANE, Inc. (NYSE:KAR)

GSA Capital Partners LLP acquired a new position in OPENLANE, Inc. (NYSE:KAR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KAR. Canada Pension Plan Investment Board acquired a new position in OPENLANE in the 4th quarter valued at $34,000. Quarry LP grew its position 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 last quarter. FSC Wealth Advisors LLC bought a new position in shares of OPENLANE in the first quarter worth about $51,000. Johnson Financial Group Inc. acquired a new position in shares of OPENLANE during the 4th quarter worth about $68,000. Finally, Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 590 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

OPENLANE Stock Performance

OPENLANE stock traded down $0.30 during midday trading on Friday, reaching $24.34. The stock had a trading volume of 712,229 shares, compared to its average volume of 820,977. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $26.03. The firm's fifty day simple moving average is $24.00 and its 200-day simple moving average is $21.55. The stock has a market capitalization of $2.61 billion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KAR shares. Bank of America increased their target price on shares of OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Wall Street Zen raised 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 issued a buy rating to the stock. According to data from MarketBeat, OPENLANE presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Insider Buying and Selling

In other news, EVP James P. Coyle sold 7,000 shares of the 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 sale, the executive vice president owned 36,511 shares of the company's stock, valued at approximately $793,018.92. This represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.51% of the company's stock.

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.