Louisiana State Employees Retirement System Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Louisiana State Employees Retirement System bought a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,000 shares of the specialty retailer's stock, valued at approximately $800,000.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted 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 valued at $51,000 after buying an additional 1,171 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of OPENLANE in the 4th quarter valued at $190,000. International Assets Investment Management LLC boosted its position in shares of OPENLANE by 1,381.0% in the 4th quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer's stock valued at $258,000 after purchasing an additional 16,227 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of OPENLANE by 32.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,716 shares of the specialty retailer's stock valued at $264,000 after purchasing an additional 4,370 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of OPENLANE by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,134 shares of the specialty retailer's stock valued at $285,000 after purchasing an additional 2,057 shares during the period. Institutional investors own 99.76% of the company's stock.

OPENLANE Stock Up 0.2 %

OPENLANE stock traded up $0.04 during mid-day trading on Friday, hitting $17.42. The company's stock had a trading volume of 452,714 shares, compared to its average volume of 794,607. The firm's 50 day moving average is $16.43 and its 200 day moving average is $15.13. The company has a market cap of $1.88 billion, a PE ratio of -9.52, a price-to-earnings-growth ratio of 0.94 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $17.70.

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

Analysts Set New Price Targets

KAR has been the subject of a number of recent analyst reports. Bank of America upgraded OPENLANE from an "underperform" rating to a "neutral" rating and increased their price target for the company from $16.00 to $20.00 in a research report on Wednesday, April 10th. Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, OPENLANE currently has a consensus rating of "Hold" and a consensus target price of $19.50.

Insider Transactions at OPENLANE

In other news, CEO Peter J. Kelly purchased 10,000 shares of the business's stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $14.87 per share, with a total value of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares of the company's stock, valued at $4,808,288.85. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider James E. Money II sold 14,822 shares of the stock in a transaction dated 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 owns 44,604 shares of the company's stock, valued at approximately $706,081.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter J. Kelly acquired 10,000 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the acquisition, the chief executive officer now owns 323,355 shares in the company, valued at approximately $4,808,288.85. The disclosure for this purchase can be found here. Company insiders own 2.74% 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.