24,872 Shares in OPENLANE, Inc. (NYSE:KAR) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 24,872 shares of the specialty retailer's stock, valued at approximately $480,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KAR. GAMMA Investing LLC lifted its position in shares of OPENLANE by 1,949.2% during the 1st quarter. GAMMA Investing LLC now owns 43,033 shares of the specialty retailer's stock valued at $830,000 after acquiring an additional 40,933 shares during the period. Burgundy Asset Management Ltd. raised its holdings 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 valued at $184,085,000 after purchasing an additional 153,975 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of OPENLANE by 26.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 339,542 shares of the specialty retailer's stock valued at $6,737,000 after purchasing an additional 70,083 shares during the period. iSAM Funds UK Ltd bought a new position in shares of OPENLANE during the 4th quarter worth about $291,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of OPENLANE in the 4th quarter valued at about $248,000. Institutional investors own 99.76% of the company's stock.

Insiders Place Their Bets

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

OPENLANE Stock Performance

KAR traded up $0.50 during midday trading on Friday, reaching $23.89. 1,839,596 shares of the company were exchanged, compared to its average volume of 789,197. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 2.93 and a beta of 1.40. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $24.42. The company's fifty day moving average price is $21.61 and its 200 day moving average price is $20.73.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results 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 return on equity of 10.38% and a net margin of 7.15%. The business had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. OPENLANE's revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on KAR shares. Bank of America upped their price target on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $20.00 to $26.00 in a report on Friday, February 28th. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.00.

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.