OPENLANE, Inc. (NYSE:KAR) Shares Sold by Teza Capital Management LLC

Teza Capital Management LLC trimmed its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,605 shares of the specialty retailer’s stock after selling 2,311 shares during the period. Teza Capital Management LLC’s holdings in OPENLANE were worth $429,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in OPENLANE in the 4th quarter valued at approximately $5,822,000. Hillsdale Investment Management Inc. purchased a new position in shares of OPENLANE in the fourth quarter valued at $4,115,000. Versor Investments LP purchased a new position in shares of OPENLANE in the fourth quarter valued at $254,000. JPMorgan Chase & Co. raised its stake in shares of OPENLANE by 119.4% during the 4th quarter. JPMorgan Chase & Co. now owns 306,038 shares of the specialty retailer’s stock worth $6,072,000 after buying an additional 166,536 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after buying an additional 138,720 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on KAR. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $26.00 in a report on Friday, February 28th. StockNews.com raised shares of OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut OPENLANE from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $20.00 in a report on Thursday, March 27th.

Insider Activity

In related news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the transaction, the executive vice president now directly owns 36,511 shares in the company, valued at approximately $793,018.92. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.51% of the company’s stock.

OPENLANE Price Performance

OPENLANE stock opened at $22.46 on Tuesday. The stock has a market capitalization of $2.41 billion, a P/E ratio of 42.38, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.86. The firm’s 50-day moving average is $19.69 and its two-hundred day moving average is $20.10.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. OPENLANE’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. As a group, analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

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.