SG Americas Securities LLC Sells 46,220 Shares of OPENLANE, Inc. (NYSE:KAR)

SG Americas Securities LLC decreased its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 79.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,621 shares of the specialty retailer's stock after selling 46,220 shares during the quarter. SG Americas Securities LLC's holdings in OPENLANE were worth $172,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KAR. State of Wyoming increased its stake in shares of OPENLANE by 25.0% in the 2nd quarter. State of Wyoming now owns 4,649 shares of the specialty retailer's stock valued at $71,000 after purchasing an additional 931 shares during the last quarter. Lazard Asset Management LLC raised its stake in OPENLANE by 14.3% during the third quarter. Lazard Asset Management LLC now owns 7,816 shares of the specialty retailer's stock worth $116,000 after acquiring an additional 975 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in OPENLANE by 51.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer's stock worth $51,000 after acquiring an additional 1,171 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of OPENLANE by 165.8% in the third quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer's stock worth $30,000 after acquiring an additional 1,686 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of OPENLANE by 144.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,872 shares of the specialty retailer's stock valued at $39,000 after purchasing an additional 1,698 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Trading Down 0.2 %

NYSE:KAR traded down $0.03 during trading hours on Monday, hitting $17.45. 733,527 shares of the company were exchanged, compared to its average volume of 721,507. The company has a fifty day simple moving average of $15.90 and a 200 day simple moving average of $14.98. OPENLANE, Inc. has a one year low of $12.86 and a one year high of $17.70. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -9.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.45. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $391.30 million during the quarter, compared to the consensus estimate of $392.56 million. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts expect that OPENLANE, Inc. will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KAR shares. Bank of America raised shares of OPENLANE from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $16.00 to $20.00 in a research note on Wednesday, April 10th. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, OPENLANE presently has a consensus rating of "Hold" and an average target price of $19.50.

Insider Transactions at OPENLANE

In other news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now directly owns 44,604 shares of the company's stock, valued at approximately $706,081.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Peter J. Kelly acquired 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares of the company's stock, valued at approximately $4,808,288.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Money II sold 14,822 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now directly owns 44,604 shares in the company, valued at $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by corporate insiders.

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.