New York State Teachers Retirement System Sells 1,700 Shares of OPENLANE, Inc. (NYSE:KAR)

New York State Teachers Retirement System reduced its stake in OPENLANE, Inc. (NYSE:KAR) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,832 shares of the specialty retailer’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System owned approximately 0.05% of OPENLANE worth $871,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State of Wyoming boosted its holdings in shares of OPENLANE by 25.0% in the second quarter. State of Wyoming now owns 4,649 shares of the specialty retailer’s stock worth $71,000 after acquiring an additional 931 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of OPENLANE by 14.3% in the third quarter. Lazard Asset Management LLC now owns 7,816 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 975 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of OPENLANE by 51.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,171 shares during the period. Royal Bank of Canada raised its position in shares of OPENLANE by 165.8% in the third quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer’s stock worth $30,000 after buying an additional 1,686 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of OPENLANE by 144.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,872 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,698 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Wednesday, February 21st. Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.50.

OPENLANE Trading Down 0.3 %

NYSE KAR opened at $17.09 on Friday. The stock’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $15.03. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $17.70. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -9.34, a PEG ratio of 0.93 and a beta of 1.45.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The business had revenue of $391.30 million for the quarter, compared to the consensus estimate of $392.56 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that OPENLANE, Inc. will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at OPENLANE

In other news, CEO Peter J. Kelly purchased 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the transaction, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the acquisition, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now owns 44,604 shares in the company, valued at approximately $706,081.32. The disclosure for this sale can be found here. Company insiders own 2.74% of the company’s stock.

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.