American Century Companies Inc. Has $834,000 Position in OPENLANE, Inc. (NYSE:KAR)

American Century Companies Inc. trimmed its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 41.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,243 shares of the specialty retailer's stock after selling 35,676 shares during the period. American Century Companies Inc.'s holdings in OPENLANE were worth $834,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of OPENLANE by 175.5% during the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer's stock worth $27,000 after buying an additional 1,018 shares in the last quarter. TFO Wealth Partners LLC raised its position in OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 1,762 shares during the last quarter. Innealta Capital LLC bought a new position in OPENLANE in the 2nd quarter valued at $81,000. Versor Investments LP acquired a new position in OPENLANE in the second quarter worth $213,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of OPENLANE during the first quarter worth $242,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Price Performance

Shares of NYSE KAR traded down $0.24 during midday trading on Wednesday, hitting $16.39. The stock had a trading volume of 375,836 shares, compared to its average volume of 720,585. The firm has a market cap of $1.78 billion, a P/E ratio of -9.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $18.73. The company's 50-day simple moving average is $17.02 and its 200 day simple moving average is $17.11.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. During the same period in the previous year, the business posted $0.25 earnings per share. OPENLANE's revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that OPENLANE, Inc. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.60.

OPENLANE Company 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.