GSA Capital Partners LLP Sells 12,220 Shares of OPENLANE, Inc. (NYSE:KAR)

GSA Capital Partners LLP lessened its holdings in OPENLANE, Inc. (NYSE:KAR) by 27.8% in the 3rd quarter, Holdings Channel reports. The firm owned 31,732 shares of the specialty retailer’s stock after selling 12,220 shares during the quarter. GSA Capital Partners LLP’s holdings in OPENLANE were worth $536,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KAR. Renaissance Technologies LLC bought a new stake in OPENLANE during the second quarter valued at about $3,243,000. Burgundy Asset Management Ltd. lifted its holdings in shares of OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after buying an additional 146,266 shares during the last quarter. Raymond James & Associates boosted its position in shares of OPENLANE by 293.5% in the second quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer’s stock valued at $4,034,000 after acquiring an additional 181,364 shares during the period. River Road Asset Management LLC grew its stake in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after acquiring an additional 671,104 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of OPENLANE by 96.3% in the second quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 7,886 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Monday, November 4th.

Insiders Place Their Bets

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at $286,918.18. The trade was a 53.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

OPENLANE Price Performance

KAR opened at $19.60 on Wednesday. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $20.45. The firm’s fifty day moving average price is $16.91 and its two-hundred day moving average price is $17.08. The company has a market capitalization of $2.09 billion, a P/E ratio of 75.39, a P/E/G ratio of 1.90 and a beta of 1.44.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. OPENLANE had a net margin of 4.26% and a return on equity of 8.67%. The firm had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that OPENLANE, Inc. will post 0.85 EPS for the current fiscal year.

About OPENLANE

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.