OPENLANE, Inc. (NYSE:KAR) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 57.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,470 shares of the specialty retailer's stock after selling 38,673 shares during the period. Y Intercept Hong Kong Ltd's holdings in OPENLANE were worth $481,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in OPENLANE by 96.3% during 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. Raymond James & Associates raised its position in shares of OPENLANE by 293.5% during the 2nd quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer's stock worth $4,034,000 after purchasing an additional 181,364 shares during the last quarter. Fifth Third Bancorp lifted its stake in OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer's stock valued at $27,000 after buying an additional 1,018 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in OPENLANE by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the specialty retailer's stock valued at $904,000 after buying an additional 1,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in OPENLANE by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 876,398 shares of the specialty retailer's stock worth $14,539,000 after buying an additional 18,706 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brad S. Lakhia acquired 4,985 shares of OPENLANE stock in a transaction dated 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 purchase, the chief financial officer now directly owns 14,303 shares of the company's stock, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.32% of the stock is currently owned by insiders.

OPENLANE Stock Performance

OPENLANE stock traded up $0.18 during trading on Monday, hitting $20.75. The company's stock had a trading volume of 664,500 shares, compared to its average volume of 699,692. The stock's fifty day moving average is $18.34 and its 200 day moving average is $17.45. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $20.85. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 79.81, a P/E/G ratio of 2.05 and a beta of 1.53.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KAR. Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Monday, November 4th. StockNews.com upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

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.