OPENLANE, Inc. (NYSE:KAR) Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its position in OPENLANE, Inc. by 75.2% during the first quarter, owning a total of 26,520 shares valued at approximately $511,000.
• OPENLANE reported a quarterly EPS of $0.33, which beat analysts' estimates by $0.09, and its revenue grew by 11.6% year-over-year.
• Overall, 99.76% of OPENLANE's stock is held by institutional investors, with several hedge funds significantly increasing their stakes during the fourth quarter.

Natixis Advisors LLC lifted its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 75.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,520 shares of the specialty retailer's stock after purchasing an additional 11,383 shares during the quarter. Natixis Advisors LLC's holdings in OPENLANE were worth $511,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE during the fourth quarter worth approximately $34,000. Quarry LP increased 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 worth $43,000 after buying an additional 1,758 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of OPENLANE during the first quarter worth approximately $51,000. Johnson Financial Group Inc. purchased a new stake in shares of OPENLANE during the fourth quarter worth approximately $68,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of OPENLANE by 19.8% during the first quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock worth $69,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Wall Street Zen upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barrington Research upped their target price on shares of OPENLANE from $25.00 to $30.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.50.

Insider Activity at OPENLANE

In other news, EVP Charles S. Coleman sold 59,289 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total value of $1,658,313.33. Following the completion of the sale, the executive vice president directly owned 53,474 shares of the company's stock, valued at approximately $1,495,667.78. This represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James P. Coyle sold 194,575 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $27.94, for a total value of $5,436,425.50. Following the completion of the sale, the executive vice president directly owned 36,851 shares of the company's stock, valued at $1,029,616.94. The trade was a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company's stock.

OPENLANE Stock Down 0.1%

OPENLANE stock traded down $0.03 during mid-day trading on Friday, hitting $28.31. The company had a trading volume of 1,000,420 shares, compared to its average volume of 973,969. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.72 and a beta of 1.40. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $29.13. The business has a fifty day moving average of $24.96 and a 200 day moving average of $22.09.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate 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 revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. Equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current 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.