OPENLANE, Inc. (NYSE:KAR) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,534 shares of the specialty retailer's stock after selling 11,070 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of OPENLANE worth $1,302,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System grew its position in shares of OPENLANE by 9.0% during the first quarter. New York State Teachers Retirement System now owns 58,947 shares of the specialty retailer's stock worth $1,136,000 after buying an additional 4,880 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of OPENLANE during the first quarter worth approximately $51,000. SG Americas Securities LLC acquired a new stake in shares of OPENLANE during the first quarter worth approximately $480,000. GAMMA Investing LLC grew its position in shares of OPENLANE by 1,949.2% during the first quarter. GAMMA Investing LLC now owns 43,033 shares of the specialty retailer's stock worth $830,000 after buying an additional 40,933 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its position in shares of OPENLANE by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock worth $184,085,000 after buying an additional 153,975 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Insider Activity

In other news, EVP James P. Coyle sold 7,000 shares of the business'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 transaction, the executive vice president owned 36,511 shares of the company's stock, valued at approximately $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.32% of the company's stock.

Analysts Set New Price Targets

KAR has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America lifted their price objective on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, OPENLANE has an average rating of "Moderate Buy" and an average price target of $24.00.

OPENLANE Trading Up 0.0%

OPENLANE stock traded up $0.01 during mid-day trading on Wednesday, reaching $24.92. The company's stock had a trading volume of 899,253 shares, compared to its average volume of 760,443. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 3.23 and a beta of 1.41. The business has a 50 day moving average price of $23.29 and a 200-day moving average price of $21.15. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $26.04.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. OPENLANE had a net margin of 7.15% and a return on equity of 10.38%. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that OPENLANE, Inc. will post 0.95 EPS 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.