OPENLANE, Inc. $KAR Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 0.7% during the first quarter, HoldingsChannel reports. The fund owned 7,183,411 shares of the specialty retailer’s stock after selling 52,978 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of OPENLANE worth $138,495,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE during the 4th quarter worth $34,000. Quarry LP lifted its stake in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 1,758 shares during the period. FSC Wealth Advisors LLC purchased a new stake in OPENLANE during the first quarter worth about $51,000. Johnson Financial Group Inc. acquired a new position in OPENLANE during the fourth quarter worth about $68,000. Finally, Nisa Investment Advisors LLC increased its holdings in OPENLANE by 19.8% in the first quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Transactions at OPENLANE

In related news, EVP James P. Coyle sold 194,575 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the transaction, the executive vice president owned 36,851 shares of the company’s stock, valued at approximately $1,029,616.94. This represents a 84.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles S. Coleman sold 59,289 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total transaction of $1,658,313.33. Following the sale, the executive vice president owned 53,474 shares in the company, valued at approximately $1,495,667.78. This trade represents a 52.58% decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KAR. JPMorgan Chase & Co. boosted their price target on OPENLANE from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded OPENLANE from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Bank of America upped their target price on OPENLANE from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Finally, Barrington Research lifted their price target on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

OPENLANE Stock Performance

KAR stock opened at $27.9470 on Thursday. The stock’s 50 day moving average price is $25.21 and its 200 day moving average price is $22.23. The firm has a market cap of $2.97 billion, a P/E ratio of 37.77, a PEG ratio of 2.69 and a beta of 1.40. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $29.13.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The company had revenue of $481.70 million during the quarter, compared to analysts’ expectations of $453.26 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.