Jane Street Group LLC Has $2.36 Million Stock Position in OPENLANE, Inc. (NYSE:KAR)

Jane Street Group LLC cut its holdings in OPENLANE, Inc. (NYSE:KAR) by 7.0% during the third quarter, Holdings Channel.com reports. The firm owned 139,595 shares of the specialty retailer’s stock after selling 10,458 shares during the quarter. Jane Street Group LLC’s holdings in OPENLANE were worth $2,356,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KAR. Fifth Third Bancorp grew its position in OPENLANE by 175.5% in the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,018 shares in the last quarter. Quarry LP boosted its stake in shares of OPENLANE by 201.4% during the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,587 shares during the last quarter. Innealta Capital LLC bought a new position in shares of OPENLANE in the 2nd quarter valued at about $81,000. Creative Planning bought a new position in shares of OPENLANE in the 3rd quarter valued at about $193,000. Finally, MQS Management LLC acquired a new stake in shares of OPENLANE in the second quarter valued at about $204,000. Institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling at OPENLANE

In related news, CFO Brad S. Lakhia purchased 4,985 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the purchase, the chief financial officer now owns 14,303 shares in the company, valued at approximately $286,918.18. This represents a 53.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on KAR. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $20.29 on Monday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $20.85. The company has a market capitalization of $2.17 billion, a P/E ratio of 78.04, a price-to-earnings-growth ratio of 2.05 and a beta of 1.53. The company has a 50-day simple moving average of $18.70 and a 200 day simple moving average of $17.53.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $448.00 million during the quarter, compared to analysts’ expectations of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities analysts forecast that OPENLANE, Inc. will post 0.84 earnings per share for the current 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.