Nuveen Asset Management LLC Boosts Holdings in OPENLANE, Inc. (NYSE:KAR)

Nuveen Asset Management LLC lifted its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 148.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 805,461 shares of the specialty retailer's stock after buying an additional 480,804 shares during the quarter. Nuveen Asset Management LLC owned about 0.75% of OPENLANE worth $15,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KAR. Brown Advisory Inc. purchased a new stake in OPENLANE in the 4th quarter worth approximately $43,941,000. Kimelman & Baird LLC purchased a new stake in shares of OPENLANE in the fourth quarter worth $15,793,000. TFJ Management LLC bought a new stake in shares of OPENLANE during the 4th quarter valued at $14,465,000. Advisory Research Inc. bought a new position in OPENLANE in the 4th quarter worth $9,761,000. Finally, Norges Bank purchased a new stake in OPENLANE in the 4th quarter worth $7,007,000. Institutional investors own 99.76% of the company's stock.

Analyst Upgrades and Downgrades

KAR has been the topic of a number of research analyst reports. Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. downgraded 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 note on Thursday, March 27th. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Finally, Stephens raised shares of 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 report on Friday, February 28th.

Insider Transactions at OPENLANE

In other news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 36,511 shares of the company's stock, valued at $793,018.92. This represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.51% of the company's stock.

OPENLANE Price Performance

OPENLANE stock traded down $0.02 during midday trading on Friday, reaching $22.85. The company's stock had a trading volume of 63,665 shares, compared to its average volume of 789,348. The stock has a market capitalization of $2.45 billion, a P/E ratio of 43.11, a PEG ratio of 1.85 and a beta of 1.32. The stock's 50-day simple moving average is $19.97 and its 200-day simple moving average is $20.31. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.95.

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

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.