Quest Partners LLC Sells 43,250 Shares of OPENLANE, Inc. (NYSE:KAR)

Quest Partners LLC trimmed its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 94.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,587 shares of the specialty retailer's stock after selling 43,250 shares during the period. Quest Partners LLC's holdings in OPENLANE were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of OPENLANE in the second quarter worth about $3,243,000. Burgundy Asset Management Ltd. lifted its holdings in shares of OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer's stock worth $148,015,000 after buying an additional 146,266 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of OPENLANE by 293.5% during the second quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer's stock worth $4,034,000 after buying an additional 181,364 shares during the last quarter. River Road Asset Management LLC boosted its position in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock valued at $85,161,000 after acquiring an additional 671,104 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of OPENLANE by 96.3% in the second quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer's stock worth $267,000 after acquiring an additional 7,886 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $20.06 per share, with a total value of $99,999.10. Following the transaction, the chief financial officer now owns 14,303 shares of the company's stock, valued at $286,918.18. The trade was a 53.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.32% of the company's stock.

Wall Street Analyst Weigh In

KAR has been the subject of several research analyst reports. Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.20.

OPENLANE Trading Up 0.4 %

Shares of NYSE:KAR traded up $0.09 during mid-day trading on Friday, reaching $20.20. The stock had a trading volume of 257,503 shares, compared to its average volume of 701,059. The firm has a market cap of $2.16 billion, a PE ratio of 77.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.44. The firm has a 50 day simple moving average of $17.48 and a two-hundred day simple moving average of $17.21. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $20.45.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $448.00 million for the quarter, compared to analysts' expectations of $431.68 million. OPENLANE had a net margin of 4.26% and a return on equity of 8.67%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, equities analysts anticipate that OPENLANE, Inc. will post 0.84 EPS for the current fiscal year.

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.