Nuveen Asset Management LLC Has $15.98 Million Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

Nuveen Asset Management LLC boosted its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 148.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 805,461 shares of the specialty retailer's stock after purchasing an additional 480,804 shares during the period. Nuveen Asset Management LLC owned about 0.75% of OPENLANE worth $15,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in OPENLANE by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,098 shares of the specialty retailer's stock worth $1,212,000 after purchasing an additional 2,123 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of OPENLANE by 100.0% in the 4th quarter. Lazard Asset Management LLC now owns 141,115 shares of the specialty retailer's stock valued at $2,799,000 after acquiring an additional 70,574 shares during the last quarter. J. Goldman & Co LP lifted its stake in shares of OPENLANE by 174.1% in the 4th quarter. J. Goldman & Co LP now owns 210,293 shares of the specialty retailer's stock valued at $4,172,000 after acquiring an additional 133,567 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of OPENLANE by 14.2% in the 4th quarter. Janus Henderson Group PLC now owns 49,060 shares of the specialty retailer's stock valued at $973,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its stake in shares of OPENLANE by 33.1% in the 4th quarter. Gotham Asset Management LLC now owns 59,080 shares of the specialty retailer's stock valued at $1,172,000 after acquiring an additional 14,686 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Down 0.1%

NYSE:KAR traded down $0.01 during trading hours on Thursday, hitting $22.79. 331,198 shares of the company were exchanged, compared to its average volume of 726,766. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 42.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $23.79. The company has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $20.29.

OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The business had revenue of $460.10 million during the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. OPENLANE's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 36,511 shares in the company, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.