OPENLANE, Inc. (NYSE:KAR) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,500 shares of the specialty retailer's stock after purchasing an additional 25,700 shares during the quarter. Two Sigma Advisers LP owned about 0.08% of OPENLANE worth $1,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KAR. Brown Advisory Inc. bought a new stake in OPENLANE during the 4th quarter valued at approximately $43,941,000. Kimelman & Baird LLC bought a new stake in shares of OPENLANE in the 4th quarter worth about $15,793,000. TFJ Management LLC purchased a new position in shares of OPENLANE in the 4th quarter worth approximately $14,465,000. Advisory Research Inc. purchased a new position in shares of OPENLANE in the 4th quarter worth approximately $9,761,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of OPENLANE by 148.1% in the 4th quarter. Nuveen Asset Management LLC now owns 805,461 shares of the specialty retailer's stock worth $15,980,000 after purchasing an additional 480,804 shares during the period. 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 stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the transaction, the executive vice president now directly owns 36,511 shares of the company's stock, valued at approximately $793,018.92. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

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

OPENLANE Stock Performance

OPENLANE stock traded down $0.21 during trading hours on Monday, hitting $22.72. The company had a trading volume of 323,654 shares, compared to its average volume of 728,256. The firm has a market cap of $2.44 billion, a P/E ratio of 42.87, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $23.00. The company has a 50-day moving average price of $20.00 and a two-hundred day moving average price of $20.33.

OPENLANE (NYSE:KAR - Get Free Report) last issued 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. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The business had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. During the same period in the prior year, the business earned $0.19 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

About OPENLANE

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.