Gotham Asset Management LLC Has $1.17 Million Position in OPENLANE, Inc. (NYSE:KAR)

Gotham Asset Management LLC increased its position in shares of OPENLANE, Inc. (NYSE:KAR) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,080 shares of the specialty retailer’s stock after purchasing an additional 14,686 shares during the period. Gotham Asset Management LLC owned approximately 0.06% of OPENLANE worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in OPENLANE by 9.6% during the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock worth $263,000 after acquiring an additional 1,161 shares during the period. Canada Pension Plan Investment Board bought a new position in OPENLANE during the 4th quarter worth $34,000. Quarry LP increased its stake in OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 1,758 shares during the period. Pictet Asset Management Holding SA increased its stake in OPENLANE by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer’s stock worth $260,000 after acquiring an additional 1,765 shares during the period. Finally, KBC Group NV increased its stake in OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after acquiring an additional 1,798 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at OPENLANE

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

Wall Street Analysts Forecast Growth

KAR has been the topic of several recent analyst reports. StockNews.com upgraded OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. cut OPENLANE from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $26.00 in a report on Friday, February 28th.

OPENLANE Stock Down 0.1%

Shares of KAR stock opened at $22.28 on Friday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.86. The stock’s fifty day simple moving average is $19.66 and its 200 day simple moving average is $20.02.

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