OPENLANE, Inc. (NYSE:KAR) Holdings Trimmed by Fernwood Investment Management LLC

Fernwood Investment Management LLC trimmed its position in shares of OPENLANE, Inc. (NYSE:KAR) by 17.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,732 shares of the specialty retailer’s stock after selling 6,500 shares during the period. Fernwood Investment Management LLC’s holdings in OPENLANE were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in OPENLANE by 51.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 1,171 shares in the last quarter. Oak Thistle LLC purchased a new position in OPENLANE during the 4th quarter worth approximately $190,000. International Assets Investment Management LLC grew its position in OPENLANE by 1,381.0% during the 4th quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 16,227 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in OPENLANE by 32.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,716 shares of the specialty retailer’s stock worth $264,000 after purchasing an additional 4,370 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in OPENLANE by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 19,134 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 2,057 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on KAR. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, OPENLANE has a consensus rating of “Hold” and an average price target of $19.50.

OPENLANE Stock Down 0.1 %

Shares of OPENLANE stock traded down $0.01 on Monday, hitting $17.41. 626,503 shares of the company traded hands, compared to its average volume of 737,085. The company has a 50-day moving average price of $16.43 and a 200 day moving average price of $15.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. OPENLANE, Inc. has a 12-month low of $12.86 and a 12-month high of $17.70. The company has a market cap of $1.88 billion, a PE ratio of -9.51, a PEG ratio of 0.94 and a beta of 1.45.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $391.30 million during the quarter, compared to analysts’ expectations of $392.56 million. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. OPENLANE’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Sell-side analysts predict that OPENLANE, Inc. will post 0.83 earnings per share for the current year.

Insider Buying and Selling

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $4,808,288.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $4,808,288.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Money II sold 14,822 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the sale, the insider now owns 44,604 shares of the company’s stock, valued at $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by corporate insiders.

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.