Vanguard Group Inc. Sells 198,078 Shares of OPENLANE, Inc. (NYSE:KAR)

Vanguard Group Inc. cut its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,998,368 shares of the specialty retailer's stock after selling 198,078 shares during the quarter. Vanguard Group Inc. owned approximately 11.23% of OPENLANE worth $238,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of OPENLANE in the fourth quarter valued at about $448,000. Hillsdale Investment Management Inc. bought a new stake in OPENLANE during the 4th quarter valued at approximately $4,115,000. Teacher Retirement System of Texas grew its holdings in OPENLANE by 95.6% in the 4th quarter. Teacher Retirement System of Texas now owns 78,604 shares of the specialty retailer's stock valued at $1,560,000 after buying an additional 38,415 shares during the last quarter. William Blair Investment Management LLC increased its position in OPENLANE by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer's stock worth $29,641,000 after buying an additional 35,164 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in shares of OPENLANE during the fourth quarter worth approximately $15,793,000. Institutional investors own 99.76% of the company's stock.

OPENLANE Price Performance

Shares of OPENLANE stock traded down $0.60 during trading on Thursday, hitting $18.33. 1,052,905 shares of the company's stock traded hands, compared to its average volume of 739,303. The company has a market cap of $1.96 billion, a PE ratio of 34.58, a PEG ratio of 1.85 and a beta of 1.38. The firm's fifty day moving average price is $20.39 and its 200 day moving average price is $19.40. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.47.

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OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. As a group, equities research analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

KAR has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. StockNews.com downgraded shares of OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.20.

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.