Quest Partners LLC Makes New $591,000 Investment in OPENLANE, Inc. (NYSE:KAR)

Quest Partners LLC acquired a new position in shares of OPENLANE, Inc. (NYSE:KARFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,894 shares of the specialty retailer’s stock, valued at approximately $591,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in OPENLANE by 51.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,171 shares during the period. Teacher Retirement System of Texas purchased a new stake in OPENLANE in the fourth quarter valued at $164,000. Oak Thistle LLC purchased a new stake in OPENLANE in the fourth quarter valued at $190,000. International Assets Investment Management LLC raised its position in OPENLANE by 1,381.0% in the fourth quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock valued at $258,000 after purchasing an additional 16,227 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in OPENLANE by 32.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,716 shares of the specialty retailer’s stock valued at $264,000 after purchasing an additional 4,370 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Trading Down 2.7 %

Shares of NYSE KAR opened at $16.93 on Thursday. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $18.41. The business has a 50-day moving average of $17.27 and a 200-day moving average of $15.59. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15.

OPENLANE (NYSE:KARGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. As a group, equities analysts anticipate that OPENLANE, Inc. will post 0.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KAR shares. Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Robert W. Baird upped their target price on OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.60.

View Our Latest Report on KAR

Insider Transactions at OPENLANE

In other news, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the sale, the insider now directly owns 44,604 shares in the company, valued at approximately $706,081.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now directly owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 323,355 shares in the company, valued at $4,808,288.85. The disclosure for this purchase can be found here. Insiders own 2.32% of the company’s stock.

OPENLANE Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OPENLANE (NYSE:KAR)

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