Gotham Asset Management LLC Acquires 14,686 Shares of OPENLANE, Inc. (NYSE:KAR)

Gotham Asset Management LLC lifted its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 33.1% during the 4th quarter, Holdings Channel reports. The firm owned 59,080 shares of the specialty retailer’s stock after purchasing an additional 14,686 shares during the quarter. Gotham Asset Management LLC’s holdings in OPENLANE were worth $1,172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KAR. Brown Advisory Inc. bought a new stake in shares of OPENLANE during the 4th quarter valued at about $43,941,000. Kimelman & Baird LLC acquired a new position in OPENLANE during the 4th quarter worth approximately $15,793,000. TFJ Management LLC acquired a new position in OPENLANE during the 4th quarter worth approximately $14,465,000. Advisory Research Inc. acquired a new position in OPENLANE during the 4th quarter worth approximately $9,761,000. Finally, Norges Bank acquired a new position in OPENLANE during the 4th quarter worth approximately $7,007,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Trading Down 0.1%

Shares of KAR opened at $22.28 on Friday. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.85 and a beta of 1.32. The stock has a 50 day moving average of $19.66 and a 200 day moving average of $20.02. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.86.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $460.10 million during the quarter, compared to the consensus estimate of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. OPENLANE’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Insiders Place Their Bets

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the sale, the executive vice president now directly owns 36,511 shares of the company’s stock, valued at $793,018.92. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

KAR has been the topic of a number of research reports. StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. downgraded 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 objective on shares of OPENLANE in a research note on Friday, February 21st. Finally, Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $26.00 in a research note on Friday, February 28th.

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.