Thrivent Financial for Lutherans Sells 4,609 Shares of OPENLANE, Inc. (NYSE:KAR)

Thrivent Financial for Lutherans lowered its holdings in OPENLANE, Inc. (NYSE:KAR) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,298 shares of the specialty retailer’s stock after selling 4,609 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of OPENLANE worth $1,440,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in OPENLANE by 175.5% during the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after buying an additional 1,018 shares during the last quarter. Quarry LP increased its stake in shares of OPENLANE by 201.4% during the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 1,587 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of OPENLANE in the 2nd quarter worth approximately $81,000. Creative Planning purchased a new position in OPENLANE in the third quarter valued at approximately $193,000. Finally, MQS Management LLC purchased a new position in OPENLANE in the second quarter valued at approximately $204,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of NYSE:KAR opened at $20.20 on Friday. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45. The stock’s 50-day moving average is $17.48 and its 200 day moving average is $17.21. The company has a market cap of $2.16 billion, a PE ratio of 77.71, a P/E/G ratio of 2.00 and a beta of 1.44.

OPENLANE (NYSE:KAR) last posted its 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. The firm had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. Analysts expect that OPENLANE, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OPENLANE currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Insider Activity at OPENLANE

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was purchased 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 directly owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.32% of the stock is currently owned by insiders.

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.