Tudor Investment Corp ET AL Cuts Stock Position in OPENLANE, Inc. (NYSE:KAR)

Tudor Investment Corp ET AL trimmed its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 33.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,238 shares of the specialty retailer's stock after selling 18,358 shares during the quarter. Tudor Investment Corp ET AL's holdings in OPENLANE were worth $739,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE in the fourth quarter valued at approximately $34,000. Quarry LP grew its stake in OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after acquiring an additional 1,758 shares during the period. Smartleaf Asset Management LLC increased its holdings in OPENLANE by 435.9% in the 4th 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 in the last quarter. Johnson Financial Group Inc. purchased a new stake in OPENLANE in the 4th quarter worth $68,000. Finally, KBC Group NV raised its position in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after acquiring an additional 1,798 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KAR shares. JPMorgan Chase & Co. cut shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. StockNews.com upgraded OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $20.00 to $26.00 in a research note on Friday, February 28th.

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 shares were 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 owns 36,511 shares of the company's stock, valued at $793,018.92. This represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.51% of the stock is owned by company insiders.

OPENLANE Price Performance

KAR traded up $0.21 on Tuesday, reaching $22.40. 123,049 shares of the company's stock were exchanged, compared to its average volume of 728,991. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.86. The stock has a market cap of $2.41 billion, a PE ratio of 42.26, a P/E/G ratio of 1.85 and a beta of 1.32. The stock's fifty day moving average price is $19.56 and its 200-day moving average price is $19.88.

OPENLANE (NYSE:KAR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share 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 business had revenue of $460.10 million for the quarter, compared to analysts' expectations of $445.70 million. During the same period in the previous year, the firm posted $0.19 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

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.