Sherbrooke Park Advisers LLC Buys Shares of 13,583 OPENLANE, Inc. (NYSE:KAR)

Sherbrooke Park Advisers LLC bought a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 13,583 shares of the specialty retailer's stock, valued at approximately $269,000.

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in OPENLANE in the 4th quarter valued at about $34,000. Quarry LP grew its position 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 in the last quarter. Smartleaf Asset Management LLC grew its position 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 worth $51,000 after buying an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of OPENLANE during the fourth quarter worth about $68,000. Finally, KBC Group NV grew its position in shares of 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 buying an additional 1,798 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

OPENLANE Stock Up 0.8%

KAR stock opened at $22.46 on Tuesday. The business has a 50 day moving average price of $19.69 and a 200 day moving average price of $20.10. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. As a group, sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Insider Buying and Selling

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the business's 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 completion of the sale, the executive vice president now owns 36,511 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on KAR shares. Barrington Research reissued an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th.

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.

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