OPENLANE, Inc. (NYSE:KAR) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 62.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,364 shares of the specialty retailer's stock after selling 397,402 shares during the period. Deutsche Bank AG owned 0.22% of OPENLANE worth $4,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of KAR. Canada Pension Plan Investment Board purchased a new position in shares of OPENLANE during the fourth quarter valued at approximately $34,000. Quarry LP lifted its stake in shares of OPENLANE by 414.6% during the fourth 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. Smartleaf Asset Management LLC lifted its stake in shares of OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,062 shares during the period. Johnson Financial Group Inc. purchased a new position in OPENLANE during the fourth quarter worth approximately $68,000. Finally, KBC Group NV raised its stake in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after purchasing an additional 1,798 shares during the period. Hedge funds and other institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $20.00 to $26.00 in a research report on Friday, February 28th.

Insider Activity at OPENLANE

In related news, EVP James P. Coyle sold 7,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were 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 of the company's stock, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.51% of the company's stock.

OPENLANE Stock Up 1.1%

Shares of OPENLANE stock traded up $0.25 during trading hours on Thursday, hitting $22.37. The company's stock had a trading volume of 796,096 shares, compared to its average volume of 731,927. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.86. The business has a fifty day moving average of $19.79 and a 200 day moving average of $20.17. The company has a market capitalization of $2.40 billion, a PE ratio of 42.20, a P/E/G ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data 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. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The company had revenue of $460.10 million during the quarter, compared to analyst estimates of $445.70 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

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.