Jane Street Group LLC Sells 10,458 Shares of OPENLANE, Inc. (NYSE:KAR)

Jane Street Group LLC lessened its position in shares of OPENLANE, Inc. (NYSE:KAR) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,595 shares of the specialty retailer’s stock after selling 10,458 shares during the quarter. Jane Street Group LLC owned about 0.13% of OPENLANE worth $2,356,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in OPENLANE by 175.5% during the 2nd 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 during the period. Quarry LP raised its stake in shares of OPENLANE by 201.4% during the second 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 stake in shares of OPENLANE during the second quarter worth approximately $81,000. Creative Planning acquired a new position in OPENLANE in the third quarter valued at approximately $193,000. Finally, MQS Management LLC bought a new position in OPENLANE in the second quarter valued at approximately $204,000. Institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $20.06 per share, with a total value of $99,999.10. Following the transaction, the chief financial officer now owns 14,303 shares of the company’s stock, valued at $286,918.18. The trade was a 53.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on KAR shares. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barrington Research reiterated 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. increased their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

OPENLANE Price Performance

Shares of NYSE KAR opened at $20.29 on Monday. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $20.85. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 2.05 and a beta of 1.53. The company’s fifty day moving average is $18.70 and its 200-day moving average is $17.53.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm had revenue of $448.00 million for the quarter, compared to analyst estimates of $431.68 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts anticipate that OPENLANE, Inc. will post 0.84 EPS for the current fiscal year.

OPENLANE Company 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.