OPENLANE, Inc. $KAR Shares Sold by Keeley Teton Advisors LLC

Key Points

• Keeley Teton Advisors LLC reduced its stake in OPENLANE, Inc. by 22.9% in the first quarter, selling 22,314 shares to hold 75,028 shares valued at approximately $1.45 million.
• Several institutional investors, including Nisa Investment Advisors LLC and Smartleaf Asset Management LLC, have increased their stakes in OPENLANE during the same quarter, with institutional investors now owning 99.76% of the company's stock.
• OPENLANE recently reported an earnings per share (EPS) of $0.33, exceeding analyst estimates of $0.24, and achieved a revenue of $481.70 million, reflecting an 11.6% increase compared to the prior year.

Keeley Teton Advisors LLC reduced its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,028 shares of the specialty retailer's stock after selling 22,314 shares during the quarter. Keeley Teton Advisors LLC owned about 0.07% of OPENLANE worth $1,447,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KAR. Quarry LP lifted its holdings 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 during the period. FSC Wealth Advisors LLC purchased a new position in OPENLANE in the 1st quarter valued at approximately $51,000. Smartleaf Asset Management LLC increased its stake in OPENLANE by 29.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer's stock valued at $63,000 after purchasing an additional 735 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in OPENLANE in the 4th quarter valued at approximately $68,000. Finally, Nisa Investment Advisors LLC increased its stake 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 purchasing an additional 590 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at OPENLANE

In other news, EVP James P. Coyle sold 194,575 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the sale, the executive vice president owned 36,851 shares in the company, valued at $1,029,616.94. This trade represents a 84.08% 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. Also, EVP Charles S. Coleman sold 59,289 shares of OPENLANE stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $27.97, for a total value of $1,658,313.33. Following the completion of the transaction, the executive vice president owned 53,474 shares in the company, valued at $1,495,667.78. The trade was a 52.58% decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KAR shares. Bank of America raised their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. raised their price target on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Barrington Research raised their price target on OPENLANE from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.50.

OPENLANE Price Performance

OPENLANE stock traded down $0.04 during mid-day trading on Friday, hitting $28.87. 864,757 shares of the company were exchanged, compared to its average volume of 922,513. The business's 50 day simple moving average is $26.10 and its two-hundred day simple moving average is $22.63. The company has a market capitalization of $3.07 billion, a P/E ratio of 39.01, a PEG ratio of 2.77 and a beta of 1.40. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $29.37.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The business had revenue of $481.70 million for the quarter, compared to analysts' expectations of $453.26 million. During the same quarter last year, the firm earned $0.19 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. Equities research 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.