Sapience Investments LLC Has $3.51 Million Stock Position in OPENLANE, Inc. (NYSE:KAR)

Sapience Investments LLC decreased its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,805 shares of the specialty retailer's stock after selling 56,279 shares during the period. OPENLANE makes up 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in shares of OPENLANE in the fourth quarter worth $34,000. Quarry LP grew its stake in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new position in OPENLANE in the fourth quarter worth $68,000. Finally, KBC Group NV lifted its position in OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after purchasing an additional 1,798 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages recently commented on KAR. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $20.00 to $26.00 in a report on Friday, February 28th.

OPENLANE Price Performance

Shares of NYSE:KAR traded down $0.01 during midday trading on Tuesday, reaching $22.45. The company's stock had a trading volume of 651,949 shares, compared to its average volume of 732,171. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86. The company has a market capitalization of $2.41 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.85 and a beta of 1.32. The business's fifty day simple moving average is $19.74 and its 200-day simple moving average is $20.11.

OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, beating 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 company 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 earnings per share. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

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.