Shufro Rose & Co. LLC Sells 5,415 Shares of OPENLANE, Inc. (NYSE:KAR)

Shufro Rose & Co. LLC lessened its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 754,184 shares of the specialty retailer’s stock after selling 5,415 shares during the period. Shufro Rose & Co. LLC owned 0.70% of OPENLANE worth $11,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund increased its stake in OPENLANE by 3.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 65,179 shares of the specialty retailer’s stock worth $965,000 after acquiring an additional 1,891 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of OPENLANE by 11.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,716 shares of the specialty retailer’s stock valued at $292,000 after purchasing an additional 2,000 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of OPENLANE in the 4th quarter valued at $846,000. Louisiana State Employees Retirement System bought a new position in shares of OPENLANE in the 4th quarter valued at $800,000. Finally, International Assets Investment Management LLC increased its stake in shares of OPENLANE by 1,381.0% in the 4th quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock valued at $258,000 after purchasing an additional 16,227 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Insiders Place Their Bets

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $14.87 per share, with a total value of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James E. Money II sold 14,822 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the sale, the insider now directly owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter J. Kelly bought 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, with a total value of $148,700.00. Following the completion of the transaction, the chief executive officer now directly owns 323,355 shares in the company, valued at $4,808,288.85. The disclosure for this purchase can be found here. Company insiders own 2.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

OPENLANE Price Performance

KAR stock traded up $0.04 during midday trading on Friday, reaching $17.42. 452,714 shares of the stock were exchanged, compared to its average volume of 794,607. The stock has a market capitalization of $1.88 billion, a PE ratio of -9.52, a P/E/G ratio of 0.94 and a beta of 1.45. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $17.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The company has a fifty day moving average price of $16.43 and a 200 day moving average price of $15.13.

OPENLANE (NYSE:KAR) last announced its earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $391.30 million for the quarter, compared to the consensus estimate of $392.56 million. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, analysts expect that OPENLANE, Inc. will post 0.83 EPS for the current fiscal 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.