J. Goldman & Co LP Has $4.17 Million Stake in OPENLANE, Inc. (NYSE:KAR)

J. Goldman & Co LP lifted its stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 174.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,293 shares of the specialty retailer's stock after buying an additional 133,567 shares during the period. J. Goldman & Co LP owned about 0.20% of OPENLANE worth $4,172,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. acquired a new stake in OPENLANE in the fourth quarter valued at $43,941,000. Kimelman & Baird LLC bought a new stake in OPENLANE during the fourth quarter valued at $15,793,000. TFJ Management LLC bought a new stake in OPENLANE during the fourth quarter valued at $14,465,000. Advisory Research Inc. bought a new stake in OPENLANE during the fourth quarter valued at $9,761,000. Finally, Norges Bank bought a new stake in OPENLANE during the fourth quarter valued at $7,007,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

OPENLANE Price Performance

Shares of KAR stock traded down $0.05 on Thursday, reaching $22.29. 422,686 shares of the company were exchanged, compared to its average volume of 731,254. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 1.85 and a beta of 1.32. The company has a 50-day moving average of $19.61 and a 200-day moving average of $19.91. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.86.

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

Insider Activity at OPENLANE

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is owned by insiders.

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.