BNP Paribas Financial Markets Sells 8,589 Shares of OPENLANE, Inc. (NYSE:KAR)

BNP Paribas Financial Markets decreased its position in shares of OPENLANE, Inc. (NYSE:KARFree Report) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,315 shares of the specialty retailer’s stock after selling 8,589 shares during the period. BNP Paribas Financial Markets’ holdings in OPENLANE were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of OPENLANE by 51.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,171 shares during the period. Illinois Municipal Retirement Fund lifted its stake in OPENLANE by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 65,179 shares of the specialty retailer’s stock worth $965,000 after acquiring an additional 1,891 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in OPENLANE by 11.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,716 shares of the specialty retailer’s stock worth $292,000 after acquiring an additional 2,000 shares during the period. Victory Capital Management Inc. lifted its stake in OPENLANE by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,134 shares of the specialty retailer’s stock worth $285,000 after acquiring an additional 2,057 shares during the period. Finally, Swiss National Bank lifted its stake in OPENLANE by 1.2% in the third quarter. Swiss National Bank now owns 240,100 shares of the specialty retailer’s stock worth $3,582,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of NYSE KAR opened at $17.25 on Monday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -9.64, a PEG ratio of 1.15 and a beta of 1.42. OPENLANE, Inc. has a 12 month low of $12.86 and a 12 month high of $18.41. The firm’s 50 day simple moving average is $17.36 and its 200-day simple moving average is $15.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15.

OPENLANE (NYSE:KARGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. OPENLANE’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. Analysts expect that OPENLANE, Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on KAR. Robert W. Baird upped their price objective on shares of OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

View Our Latest Research Report on KAR

Insider Activity

In other news, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on 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 owns 44,604 shares in the company, valued at approximately $706,081.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP James P. Coyle sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total transaction of $108,540.00. Following the transaction, the executive vice president now owns 23,885 shares in the company, valued at approximately $432,079.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Money II sold 14,822 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now owns 44,604 shares in the company, valued at approximately $706,081.32. The disclosure for this sale can be found here. Insiders own 2.32% of the company’s stock.

OPENLANE Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for OPENLANE (NYSE:KAR)

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