Zurcher Kantonalbank Zurich Cantonalbank Has $292,000 Stock Position in OPENLANE, Inc. (NYSE:KAR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in OPENLANE, Inc. (NYSE:KAR) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,716 shares of the specialty retailer’s stock after buying an additional 2,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OPENLANE were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KAR. Allspring Global Investments Holdings LLC boosted its position in shares of OPENLANE by 51.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,171 shares during the period. Oak Thistle LLC bought a new stake in OPENLANE in the 4th quarter valued at $190,000. International Assets Investment Management LLC boosted its holdings in 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 period. Victory Capital Management Inc. grew its position in OPENLANE by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,134 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 2,057 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of OPENLANE during the 3rd quarter worth about $359,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Trading Up 0.6 %

KAR stock opened at $17.69 on Monday. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $17.85. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $16.72 and its 200-day moving average is $15.24. The firm has a market cap of $1.91 billion, a P/E ratio of -9.88, a P/E/G ratio of 0.96 and a beta of 1.42.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $416.30 million during the quarter, compared to the consensus estimate of $425.19 million. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. Equities analysts anticipate that OPENLANE, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on KAR. Robert W. Baird lifted their target price on OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Thursday. Finally, Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and upped their target price for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, OPENLANE has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Insider Buying and Selling

In other news, CEO Peter J. Kelly purchased 10,000 shares of OPENLANE stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $14.87 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider James E. Money II sold 14,822 shares of the firm’s stock in a transaction on 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 in the company, valued at $706,081.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter J. Kelly purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by corporate insiders.

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.