Jump Financial LLC Purchases New Position in OPENLANE, Inc. (NYSE:KAR)

Jump Financial LLC acquired a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,891 shares of the specialty retailer's stock, valued at approximately $910,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its stake in OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock worth $3,022,000 after acquiring an additional 138,720 shares during the period. Geode Capital Management LLC lifted its position in shares of OPENLANE by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock worth $41,799,000 after purchasing an additional 35,214 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of OPENLANE by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer's stock valued at $2,355,000 after purchasing an additional 10,962 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in OPENLANE by 3.7% during the fourth quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock valued at $832,000 after buying an additional 1,477 shares during the period. Finally, KBC Group NV raised its stake in 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. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on KAR. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. cut shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. StockNews.com lowered OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OPENLANE presently has an average rating of "Moderate Buy" and a consensus target price of $22.75.

OPENLANE Stock Performance

Shares of NYSE:KAR remained flat at $18.46 during trading on Friday. 601,201 shares of the stock traded hands, compared to its average volume of 726,062. The business's 50-day simple moving average is $19.96 and its two-hundred day simple moving average is $19.53. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.47. The stock has a market capitalization of $1.97 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, equities research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal 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.