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

Yousif Capital Management LLC trimmed its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,593 shares of the specialty retailer’s stock after selling 1,175 shares during the quarter. Yousif Capital Management LLC’s holdings in OPENLANE were worth $763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in OPENLANE in the 4th quarter worth $34,000. Quarry LP grew its position in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 1,758 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of OPENLANE during the 4th quarter worth about $68,000. Finally, Quantessence Capital LLC acquired a new position in shares of OPENLANE during the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of OPENLANE stock opened at $22.12 on Friday. The stock’s 50 day simple moving average is $21.19 and its 200-day simple moving average is $20.64. The stock has a market cap of $2.37 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.84 and a beta of 1.40. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $24.42.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $460.10 million for the quarter, compared to the consensus estimate of $445.70 million. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. As a group, research analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KAR shares. Bank of America lifted their price objective on OPENLANE from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. Wall Street Zen raised OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, OPENLANE has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity at OPENLANE

In other news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $21.72, for a total transaction of $152,040.00. Following the sale, the executive vice president now owns 36,511 shares of the company’s stock, valued at approximately $793,018.92. The trade was a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by insiders.

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.