KLP Kapitalforvaltning AS Acquires Shares of 22,600 OPENLANE, Inc. (NYSE:KAR)

KLP Kapitalforvaltning AS acquired a new position in OPENLANE, Inc. (NYSE:KAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,600 shares of the specialty retailer's stock, valued at approximately $448,000.

Several other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 2,062 shares during the period. KBC Group NV lifted its holdings in shares of OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after buying an additional 1,798 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of OPENLANE during the fourth quarter worth $187,000. Versor Investments LP purchased a new position in OPENLANE during the fourth quarter valued at $254,000. Finally, Natixis Advisors LLC increased its holdings in OPENLANE by 19.9% in the 4th quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer's stock valued at $300,000 after acquiring an additional 2,512 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

OPENLANE Trading Up 8.0 %

NYSE:KAR traded up $1.41 during midday trading on Wednesday, hitting $18.98. 1,012,966 shares of the company traded hands, compared to its average volume of 738,554. The firm has a market capitalization of $2.03 billion, a P/E ratio of 35.81, a P/E/G ratio of 1.85 and a beta of 1.38. The firm's fifty day moving average is $20.42 and its 200-day moving average is $19.39. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.47.

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OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, research analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KAR shares. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and cut their price target for the company from $23.00 to $20.00 in a report on Thursday, March 27th. StockNews.com cut OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.20.

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.