Vanguard Group Inc. Sells 184,432 Shares of OPENLANE, Inc. $KAR

Key Points

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Vanguard Group Inc. lessened its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,813,936 shares of the specialty retailer's stock after selling 184,432 shares during the quarter. Vanguard Group Inc. owned about 11.00% of OPENLANE worth $227,773,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of OPENLANE during the 4th quarter valued at about $34,000. Quarry LP raised its holdings in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after buying an additional 1,758 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of OPENLANE during the 1st quarter valued at about $51,000. Johnson Financial Group Inc. purchased a new position in shares of OPENLANE during the 4th quarter valued at about $68,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock valued at $69,000 after buying an additional 590 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KAR shares. Bank of America raised their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Barrington Research raised their price objective on OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, OPENLANE presently has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Insider Buying and Selling

In other news, EVP Charles S. Coleman sold 59,289 shares of OPENLANE stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total value of $1,658,313.33. Following the sale, the executive vice president directly owned 53,474 shares in the company, valued at approximately $1,495,667.78. This trade represents a 52.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James P. Coyle sold 194,575 shares of OPENLANE stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total value of $5,436,425.50. Following the completion of the sale, the executive vice president owned 36,851 shares in the company, valued at approximately $1,029,616.94. This represents a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

OPENLANE Price Performance

OPENLANE stock traded up $0.9650 during trading hours on Friday, reaching $29.1450. The company had a trading volume of 760,560 shares, compared to its average volume of 952,393. The company has a 50-day moving average price of $25.43 and a 200 day moving average price of $22.36. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.79 and a beta of 1.40. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $29.19.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. The business had revenue of $481.70 million for the quarter, compared to analysts' expectations of $453.26 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. As a group, research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.