OPENLANE, Inc. (NYSE:KAR) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its holdings in OPENLANE, Inc. (NYSE:KAR) by 23.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,140 shares of the specialty retailer’s stock after selling 3,360 shares during the period. Everence Capital Management Inc.’s holdings in OPENLANE were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of OPENLANE in the 2nd quarter valued at about $3,243,000. Clifford Capital Partners LLC acquired a new position in OPENLANE in the third quarter valued at approximately $10,309,000. Burgundy Asset Management Ltd. grew its holdings in shares of OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after purchasing an additional 146,266 shares during the last quarter. Geode Capital Management LLC raised its position in shares of OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares during the period. Finally, Barclays PLC lifted its holdings in shares of OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after purchasing an additional 138,720 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Performance

NYSE:KAR opened at $20.24 on Thursday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 77.85, a PEG ratio of 2.04 and a beta of 1.52. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.85. The business has a fifty day moving average of $19.67 and a 200-day moving average of $17.84.

OPENLANE (NYSE:KAR) last announced its earnings results 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. OPENLANE had a net margin of 4.26% and a return on equity of 8.67%. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. During the same quarter in the prior year, the firm posted $0.18 EPS. OPENLANE’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that OPENLANE, Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Activity at OPENLANE

In other news, CFO Brad S. Lakhia bought 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the chief financial officer now directly owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.32% of the company’s stock.

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.