International Assets Investment Management LLC Boosts Position in OPENLANE, Inc. (NYSE:KAR)

International Assets Investment Management LLC boosted its holdings in OPENLANE, Inc. (NYSE:KAR) by 1,381.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,402 shares of the specialty retailer’s stock after buying an additional 16,227 shares during the period. International Assets Investment Management LLC’s holdings in OPENLANE were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KAR. Burgundy Asset Management Ltd. grew its position in OPENLANE by 2.2% in the third quarter. Burgundy Asset Management Ltd. now owns 8,454,728 shares of the specialty retailer’s stock valued at $126,145,000 after acquiring an additional 182,241 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in OPENLANE by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,213 shares of the specialty retailer’s stock valued at $25,770,000 after acquiring an additional 53,654 shares in the last quarter. Invesco Ltd. grew its position in OPENLANE by 5.8% in the third quarter. Invesco Ltd. now owns 770,127 shares of the specialty retailer’s stock valued at $11,490,000 after acquiring an additional 42,420 shares in the last quarter. Gamco Investors INC. ET AL grew its position in OPENLANE by 0.9% in the third quarter. Gamco Investors INC. ET AL now owns 465,230 shares of the specialty retailer’s stock valued at $6,941,000 after acquiring an additional 4,050 shares in the last quarter. Finally, Swiss National Bank grew its position in OPENLANE by 1.2% in the third quarter. Swiss National Bank now owns 240,100 shares of the specialty retailer’s stock valued at $3,582,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KAR. Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and raised their target price for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.50.

Insider Buying and Selling

In related news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now directly owns 44,604 shares of the company’s stock, valued at $706,081.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now directly owns 44,604 shares of the company’s stock, valued at $706,081.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Peter J. Kelly purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares in the company, valued at approximately $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

OPENLANE Price Performance

Shares of NYSE KAR opened at $17.42 on Friday. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $17.70. The firm’s 50-day simple moving average is $16.43 and its 200 day simple moving average is $15.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.88 billion, a P/E ratio of -9.52, a P/E/G ratio of 0.94 and a beta of 1.45.

OPENLANE (NYSE:KAR) last released its earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $391.30 million for the quarter, compared to analyst estimates of $392.56 million. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. OPENLANE’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Equities analysts expect that OPENLANE, Inc. will post 0.83 EPS 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.