Homestead Advisers Corp Has $3.39 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Homestead Advisers Corp lifted its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,600 shares of the specialty retailer's stock after buying an additional 23,100 shares during the quarter. Homestead Advisers Corp owned about 0.16% of OPENLANE worth $3,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KAR. Raymond James Financial Inc. bought a new position in OPENLANE during the fourth quarter worth $5,822,000. Swiss National Bank boosted its position in OPENLANE by 1.0% during the fourth quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer's stock worth $4,238,000 after purchasing an additional 2,100 shares during the period. Natixis Advisors LLC boosted its position in OPENLANE by 19.9% during the fourth quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer's stock worth $300,000 after purchasing an additional 2,512 shares during the period. Teacher Retirement System of Texas boosted its position in OPENLANE by 95.6% during the fourth quarter. Teacher Retirement System of Texas now owns 78,604 shares of the specialty retailer's stock worth $1,560,000 after purchasing an additional 38,415 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in OPENLANE during the fourth quarter worth $448,000. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KAR has been the subject of a number of research analyst reports. Bank of America lifted their price objective 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. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut shares of OPENLANE from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Insider Buying and Selling at OPENLANE

In related news, EVP James P. Coyle sold 7,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.51% of the company's stock.

OPENLANE Stock Up 0.9%

Shares of KAR traded up $0.22 during midday trading on Friday, reaching $25.00. 142,250 shares of the stock were exchanged, compared to its average volume of 820,231. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $26.03. The company has a market cap of $2.68 billion, a P/E ratio of 37.87, a PEG ratio of 2.84 and a beta of 1.41. The stock's 50 day simple moving average is $23.77 and its 200 day simple moving average is $21.39.

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 analysts' consensus estimates of $0.24 by $0.07. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The company had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. During the same quarter last year, the firm earned $0.19 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that OPENLANE, Inc. will post 0.95 earnings per share 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.