Advisory Research Inc. Acquires New Position in OPENLANE, Inc. (NYSE:KAR)

Advisory Research Inc. acquired a new position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 492,011 shares of the specialty retailer's stock, valued at approximately $9,761,000. OPENLANE accounts for about 1.6% of Advisory Research Inc.'s holdings, making the stock its 22nd largest holding. Advisory Research Inc. owned approximately 0.46% of OPENLANE at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KAR. Marshall Wace LLP grew its stake in OPENLANE by 1,130.4% during the 4th quarter. Marshall Wace LLP now owns 184,558 shares of the specialty retailer's stock valued at $3,662,000 after purchasing an additional 169,558 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of OPENLANE during the fourth quarter worth about $910,000. XTX Topco Ltd purchased a new stake in OPENLANE in the fourth quarter valued at approximately $459,000. Icon Advisers Inc. Co. acquired a new position in OPENLANE in the 4th quarter worth approximately $2,778,000. Finally, Barclays PLC raised its position in OPENLANE by 5.7% during the 4th quarter. Barclays PLC now owns 189,117 shares of the specialty retailer's stock worth $3,753,000 after buying an additional 10,153 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on KAR. StockNews.com lowered OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their target price for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. Finally, Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $20.00 to $26.00 in a 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 data from MarketBeat, OPENLANE currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

OPENLANE Stock Performance

Shares of KAR stock traded up $0.12 on Friday, reaching $18.71. 670,155 shares of the company were exchanged, compared to its average volume of 732,548. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The business has a 50-day moving average price of $20.13 and a 200 day moving average price of $19.49.

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