Arrowstreet Capital Limited Partnership Acquires 56,531 Shares of OPENLANE, Inc. (NYSE:KAR)

Arrowstreet Capital Limited Partnership raised its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622,190 shares of the specialty retailer's stock after acquiring an additional 56,531 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.58% of OPENLANE worth $12,344,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KAR. BNP Paribas Financial Markets lifted its stake in OPENLANE by 6.6% in the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock valued at $403,000 after buying an additional 1,472 shares during the last quarter. Barclays PLC grew its holdings in OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after purchasing an additional 138,720 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock valued at $41,799,000 after acquiring an additional 35,214 shares during the last quarter. 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 acquiring an additional 10,962 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 1,477 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KAR shares. StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Barrington Research restated an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Finally, Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.20.

OPENLANE Stock Performance

NYSE:KAR traded down $0.65 during trading hours on Thursday, hitting $18.28. 54,473 shares of the company's stock traded hands, compared to its average volume of 735,895. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.47. The stock's fifty day moving average price is $20.42 and its two-hundred day moving average price is $19.39. The firm has a market cap of $1.95 billion, a P/E ratio of 34.49, a P/E/G ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly 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. The company had revenue of $455.00 million during the quarter, compared to the consensus estimate of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. On average, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

OPENLANE 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.