OPENLANE, Inc. $KAR Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in OPENLANE, Inc. by 0.7%, now owning approximately 6.69% of the company, worth $138.5 million after selling 52,978 shares.
• OPENLANE reported quarterly earnings of $0.33 per share, exceeding analysts' expectations of $0.24, with revenues increasing 11.6% year-over-year to $481.7 million.
• In recent analyst ratings, Barrington Research upgraded the company's target price from $25.00 to $30.00, maintaining an "outperform" rating.

Dimensional Fund Advisors LP trimmed its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,183,411 shares of the specialty retailer's stock after selling 52,978 shares during the period. Dimensional Fund Advisors LP owned approximately 6.69% of OPENLANE worth $138,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position 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. Kathmere Capital Management LLC grew its position in OPENLANE by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer's stock valued at $760,000 after buying an additional 1,000 shares during the last quarter. CWM LLC grew its position in OPENLANE by 34.5% in the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer's stock valued at $81,000 after buying an additional 1,077 shares during the last quarter. Bank of Montreal Can grew its position in OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after buying an additional 1,161 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in OPENLANE by 1.1% in the 4th quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock valued at $2,509,000 after buying an additional 1,339 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at OPENLANE

In other OPENLANE news, EVP Charles S. Coleman sold 59,289 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 53,474 shares in the company, valued at approximately $1,495,667.78. This represents a 52.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James P. Coyle sold 194,575 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the transaction, the executive vice president directly owned 36,851 shares of the company's stock, valued at approximately $1,029,616.94. This represents a 84.08% decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is currently owned by corporate insiders.

OPENLANE Price Performance

NYSE:KAR traded up $0.12 on Tuesday, reaching $29.15. The stock had a trading volume of 378,051 shares, compared to its average volume of 955,211. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.78 and a beta of 1.40. The firm's fifty day moving average is $25.70 and its two-hundred day moving average is $22.48. 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 released its earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.09. The company had revenue of $481.70 million for the quarter, compared to analyst estimates of $453.26 million. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. As a group, research analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KAR has been the topic of a number of analyst reports. Barrington Research lifted their price objective on shares of OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, OPENLANE currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

OPENLANE 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.