Renaissance Technologies LLC Sells 90,900 Shares of OPENLANE, Inc. (NYSE:KAR)

Renaissance Technologies LLC decreased its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 59.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,800 shares of the specialty retailer's stock after selling 90,900 shares during the quarter. Renaissance Technologies LLC owned 0.06% of OPENLANE worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of OPENLANE by 9.6% during the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after acquiring an additional 1,161 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in shares of OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock worth $832,000 after purchasing an additional 1,477 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of OPENLANE by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock valued at $260,000 after purchasing an additional 1,765 shares in the last quarter. KBC Group NV increased its position in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,062 shares during the period. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

KAR has been the subject of a number of research reports. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $20.00 to $26.00 in a report on Friday, February 28th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Barrington Research reaffirmed an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th.

OPENLANE Stock Down 0.0 %

NYSE:KAR traded down $0.01 during mid-day trading on Monday, hitting $18.99. 14,932 shares of the company traded hands, compared to its average volume of 768,453. The stock's fifty day moving average price is $19.70 and its 200-day moving average price is $19.69. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. Equities analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

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.