OPENLANE, Inc. (NYSE:KAR) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 26.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,542 shares of the specialty retailer's stock after purchasing an additional 70,083 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.32% of OPENLANE worth $6,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new position in shares of OPENLANE during the fourth quarter valued at approximately $34,000. Quarry LP boosted its holdings in OPENLANE by 414.6% in the 4th 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. Smartleaf Asset Management LLC increased its holdings in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new position in OPENLANE during the fourth quarter valued at $68,000. Finally, KBC Group NV raised its position in shares of OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

OPENLANE Stock Up 3.4%

OPENLANE stock traded up $0.78 during midday trading on Tuesday, reaching $23.58. The company's stock had a trading volume of 873,861 shares, compared to its average volume of 730,279. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $23.61. The company has a market cap of $2.53 billion, a P/E ratio of 44.50, a P/E/G ratio of 1.85 and a beta of 1.32. The business has a 50-day simple moving average of $20.04 and a 200-day simple moving average of $20.35.

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

Wall Street Analyst Weigh In

KAR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. Finally, Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st.

Insider Transactions at OPENLANE

In related news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $21.72, for a total transaction of $152,040.00. Following the sale, the executive vice president now owns 36,511 shares in the company, valued at $793,018.92. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.51% of the company's stock.

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.