OPENLANE, Inc. (NYSE:KAR) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 41.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,243 shares of the specialty retailer’s stock after selling 35,676 shares during the quarter. American Century Companies Inc.’s holdings in OPENLANE were worth $834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fifth Third Bancorp raised its stake in shares of OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 1,018 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of OPENLANE by 16,018.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 1,762 shares during the period. Innealta Capital LLC purchased a new position in shares of OPENLANE during the 2nd quarter valued at approximately $81,000. Versor Investments LP acquired a new position in shares of OPENLANE in the 2nd quarter valued at $213,000. Finally, Los Angeles Capital Management LLC purchased a new stake in OPENLANE during the first quarter worth $242,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

OPENLANE Stock Performance

NYSE:KAR opened at $16.63 on Wednesday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 1.73 and a beta of 1.44. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $18.73. The stock has a fifty day moving average price of $17.05 and a two-hundred day moving average price of $17.11.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The firm had revenue of $431.80 million during the quarter, compared to analyst estimates of $426.11 million. During the same period last year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that OPENLANE, Inc. will post 0.78 EPS for the current year.

OPENLANE Company 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.