Deutsche Bank AG Trims Position in OPENLANE, Inc. (NYSE:KAR)

Deutsche Bank AG trimmed its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 62.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,364 shares of the specialty retailer's stock after selling 397,402 shares during the period. Deutsche Bank AG owned about 0.22% of OPENLANE worth $4,689,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in OPENLANE in the 4th quarter worth about $34,000. Quarry LP increased its holdings in OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after acquiring an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new position in OPENLANE in the 4th quarter worth about $68,000. Finally, KBC Group NV boosted its stake in OPENLANE by 51.1% in the 4th 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. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Performance

NYSE:KAR traded down $0.30 during mid-day trading on Friday, reaching $22.11. The stock had a trading volume of 602,523 shares, compared to its average volume of 727,776. The firm has a 50 day moving average price of $19.83 and a two-hundred day moving average price of $20.23. The stock has a market capitalization of $2.37 billion, a P/E ratio of 41.71, a P/E/G 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 $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share 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 the consensus estimate of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. OPENLANE's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Research analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. downgraded 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 report on Thursday, March 27th. Finally, Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $20.00 to $26.00 in a research report on Friday, February 28th.

Insiders Place Their Bets

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the transaction, the executive vice president now directly owns 36,511 shares of the company's stock, valued at $793,018.92. The trade was a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.51% of the company's stock.

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.