Sapience Investments LLC Sells 56,279 Shares of OPENLANE, Inc. (NYSE:KAR)

Sapience Investments LLC lowered its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,805 shares of the specialty retailer's stock after selling 56,279 shares during the period. OPENLANE comprises 2.0% of Sapience Investments LLC's portfolio, making the stock its 9th largest holding. Sapience Investments LLC owned approximately 0.17% of OPENLANE worth $3,508,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Sherbrooke Park Advisers LLC bought a new position in shares of OPENLANE during the 4th quarter worth about $269,000. ProShare Advisors LLC lifted its stake in OPENLANE by 44.3% during the fourth quarter. ProShare Advisors LLC now owns 32,351 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 9,925 shares during the period. Nuveen Asset Management LLC boosted its holdings in OPENLANE by 148.1% during the fourth quarter. Nuveen Asset Management LLC now owns 805,461 shares of the specialty retailer's stock valued at $15,980,000 after purchasing an additional 480,804 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OPENLANE by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,098 shares of the specialty retailer's stock valued at $1,212,000 after purchasing an additional 2,123 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of OPENLANE by 100.0% in the 4th quarter. Lazard Asset Management LLC now owns 141,115 shares of the specialty retailer's stock worth $2,799,000 after buying an additional 70,574 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Trading Up 0.9%

NYSE KAR traded up $0.21 during trading hours on Thursday, reaching $22.33. 213,618 shares of the company's stock were exchanged, compared to its average volume of 729,687. The firm has a fifty day moving average of $19.76 and a 200-day moving average of $20.13. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.86. The stock has a market cap of $2.40 billion, a PE ratio of 42.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32.

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

Insiders Place Their Bets

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the transaction, the executive vice president now owns 36,511 shares of the company's stock, valued at approximately $793,018.92. This represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

KAR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st.

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.