27,526 Shares in OPENLANE, Inc. (NYSE:KAR) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of OPENLANE, Inc. (NYSE:KAR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 27,526 shares of the specialty retailer’s stock, valued at approximately $531,000.

A number of other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of OPENLANE during the 4th quarter worth about $34,000. Quarry LP increased its holdings in OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 1,758 shares during the period. FSC Wealth Advisors LLC acquired a new stake in OPENLANE during the first quarter valued at approximately $51,000. Johnson Financial Group Inc. bought a new stake in OPENLANE in the fourth quarter valued at $68,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock worth $69,000 after purchasing an additional 590 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP James P. Coyle sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the transaction, the executive vice president owned 36,511 shares in the company, valued at $793,018.92. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.51% of the stock is owned by company insiders.

OPENLANE Stock Performance

NYSE:KAR opened at $24.85 on Friday. The stock’s fifty day moving average price is $23.82 and its two-hundred day moving average price is $21.43. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.77 and a beta of 1.41. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $26.03.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $460.10 million during 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 company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. On average, equities analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KAR. Bank of America increased their price target on OPENLANE from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Wall Street Zen raised OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.