ExodusPoint Capital Management LP Cuts Holdings in OPENLANE, Inc. (NYSE:KAR)

ExodusPoint Capital Management LP reduced its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 76.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,377 shares of the specialty retailer's stock after selling 201,324 shares during the period. ExodusPoint Capital Management LP owned approximately 0.06% of OPENLANE worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in OPENLANE by 435.9% in the fourth 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 last quarter. KBC Group NV boosted 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 during the last quarter. Pacer Advisors Inc. bought a new stake in OPENLANE during the fourth quarter valued at approximately $187,000. Versor Investments LP purchased a new stake in OPENLANE during the fourth quarter valued at approximately $254,000. Finally, Pictet Asset Management Holding SA raised its position in OPENLANE by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock worth $260,000 after acquiring an additional 1,765 shares during the period. Institutional investors own 99.76% of the company's stock.

OPENLANE Stock Down 0.1 %

NYSE:KAR traded down $0.02 on Tuesday, reaching $18.61. 91,551 shares of the company's stock traded hands, compared to its average volume of 734,441. The stock has a 50-day simple moving average of $20.31 and a 200-day simple moving average of $19.45. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.47. The firm has a market cap of $1.99 billion, a PE ratio of 35.10, a P/E/G ratio of 1.85 and a beta of 1.38.

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OPENLANE (NYSE:KAR - Get Free Report) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) 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 company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. On average, equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.