Price T Rowe Associates Inc. MD Trims Holdings in OPENLANE, Inc. (NYSE:KAR)

Price T Rowe Associates Inc. MD decreased its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 50.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,981 shares of the specialty retailer's stock after selling 85,959 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.08% of OPENLANE worth $1,647,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quantessence Capital LLC purchased a new position in OPENLANE in the fourth quarter worth $202,000. Massar Capital Management LP bought a new position in shares of OPENLANE in the 4th quarter worth approximately $298,000. TFJ Management LLC purchased a new position in OPENLANE during the fourth quarter valued at $14,465,000. MetLife Investment Management LLC raised its position in OPENLANE by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 65,486 shares of the specialty retailer's stock worth $1,299,000 after buying an additional 3,600 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of OPENLANE by 197.6% during the 4th quarter. First Trust Advisors LP now owns 219,411 shares of the specialty retailer's stock valued at $4,353,000 after acquiring an additional 145,673 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

OPENLANE Stock Performance

Shares of OPENLANE stock traded up $0.03 on Wednesday, reaching $22.36. 127,785 shares of the company were exchanged, compared to its average volume of 730,182. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.86. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 42.18, a P/E/G ratio of 1.85 and a beta of 1.32. The company's 50-day moving average is $19.59 and its two-hundred day moving average is $19.90.

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

Insider Buying and Selling at OPENLANE

In other news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the sale, the executive vice president now directly owns 36,511 shares of the company's stock, valued at $793,018.92. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.51% of the company's stock.

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.