Victory Capital Management Inc. Sells 2,691 Shares of OPENLANE, Inc. (NYSE:KAR)

Victory Capital Management Inc. decreased its position in shares of OPENLANE, Inc. (NYSE:KAR) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,264 shares of the specialty retailer’s stock after selling 2,691 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of OPENLANE worth $1,162,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in shares of OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock worth $69,000 after buying an additional 590 shares during the period. Kathmere Capital Management LLC boosted its stake in OPENLANE by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer’s stock worth $760,000 after acquiring an additional 1,000 shares during the last quarter. CWM LLC grew its holdings in OPENLANE by 34.5% during the first quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,077 shares during the period. Bank of Montreal Can increased its stake in OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 1,161 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in OPENLANE by 1.1% in the fourth quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer’s stock worth $2,509,000 after purchasing an additional 1,339 shares during the period. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Down 0.4%

NYSE KAR opened at $24.64 on Thursday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.77 and a beta of 1.41. The company has a 50 day moving average of $23.91 and a 200-day moving average of $21.50. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $26.03.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The business had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. During the same period in the prior year, the company earned $0.19 EPS. OPENLANE’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KAR. Wall Street Zen raised shares of OPENLANE from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Bank of America boosted their target price on OPENLANE from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Two research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Buying and Selling

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

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.