OPENLANE, Inc. (NYSE:KAR) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 63.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,073 shares of the specialty retailer's stock after selling 51,097 shares during the period. Algert Global LLC's holdings in OPENLANE were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KAR. Invenomic Capital Management LP increased its stake in shares of OPENLANE by 277.0% in the first quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer's stock worth $26,463,000 after purchasing an additional 1,123,953 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of OPENLANE in the 2nd quarter worth approximately $3,243,000. Hawk Ridge Capital Management LP lifted its holdings in shares of OPENLANE by 5.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer's stock worth $57,762,000 after acquiring an additional 195,200 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of OPENLANE by 293.5% in the 2nd quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer's stock worth $4,034,000 after acquiring an additional 181,364 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of OPENLANE by 14.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer's stock worth $23,922,000 after acquiring an additional 181,130 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Performance

Shares of NYSE KAR traded up $0.10 during midday trading on Tuesday, hitting $15.83. 460,547 shares of the company's stock traded hands, compared to its average volume of 716,422. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $18.73. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -8.84, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. The firm has a fifty day moving average of $16.85 and a 200 day moving average of $17.09.

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). The company had revenue of $431.80 million for the quarter, compared to analysts' expectations of $426.11 million. OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. On average, equities analysts anticipate that OPENLANE, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

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.