OPENLANE, Inc. (NYSE:KAR) Shares Sold by Shufro Rose & Co. LLC

Shufro Rose & Co. LLC decreased its position in shares of OPENLANE, Inc. (NYSE:KAR) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 767,954 shares of the specialty retailer’s stock after selling 2,481 shares during the period. OPENLANE comprises approximately 1.2% of Shufro Rose & Co. LLC’s holdings, making the stock its 25th biggest holding. Shufro Rose & Co. LLC owned about 0.72% of OPENLANE worth $14,806,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new stake in shares of OPENLANE during the fourth quarter valued at about $43,941,000. TFJ Management LLC acquired a new stake in OPENLANE during the 4th quarter valued at approximately $14,465,000. Advisory Research Inc. purchased a new stake in OPENLANE during the 4th quarter worth approximately $9,761,000. Nuveen Asset Management LLC raised its position in shares of OPENLANE by 148.1% in the 4th quarter. Nuveen Asset Management LLC now owns 805,461 shares of the specialty retailer’s stock valued at $15,980,000 after purchasing an additional 480,804 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of OPENLANE in the 4th quarter valued at approximately $7,007,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Price Performance

NYSE:KAR opened at $24.61 on Friday. The firm has a market capitalization of $2.64 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.76 and a beta of 1.41. The business has a 50 day simple moving average of $24.00 and a 200 day simple moving average of $21.55. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month 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, beating 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 net margin of 7.15% and a return on equity of 10.38%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at OPENLANE

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the firm’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 sale, the executive vice president owned 36,511 shares in the company, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is 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.