Yousif Capital Management LLC Sells 890 Shares of OPENLANE, Inc. (NYSE:KAR)

Yousif Capital Management LLC lessened its holdings in OPENLANE, Inc. (NYSE:KAR) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,620 shares of the specialty retailer’s stock after selling 890 shares during the quarter. Yousif Capital Management LLC’s holdings in OPENLANE were worth $794,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KAR. Illinois Municipal Retirement Fund grew its position in shares of OPENLANE by 3.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 65,179 shares of the specialty retailer’s stock valued at $965,000 after buying an additional 1,891 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 period. Mackenzie Financial Corp acquired a new stake in OPENLANE in the fourth quarter worth $846,000. Louisiana State Employees Retirement System acquired a new stake in shares of OPENLANE in the 4th quarter valued at about $800,000. Finally, International Assets Investment Management LLC grew its stake in OPENLANE by 1,381.0% in the fourth quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock valued at $258,000 after acquiring an additional 16,227 shares during the period. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at OPENLANE

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

OPENLANE Price Performance

Shares of KAR opened at $17.69 on Monday. 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 firm has a market cap of $1.91 billion, a PE ratio of -9.88, a P/E/G ratio of 0.96 and a beta of 1.42. The firm has a fifty day simple moving average of $16.72 and a two-hundred day simple moving average of $15.24. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $17.85.

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