Hillsdale Investment Management Inc. Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Hillsdale Investment Management Inc. purchased a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 207,400 shares of the specialty retailer's stock, valued at approximately $4,115,000. Hillsdale Investment Management Inc. owned about 0.19% of OPENLANE at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in OPENLANE by 6.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock valued at $403,000 after purchasing an additional 1,472 shares during the last quarter. Carolina Wealth Advisors LLC grew its stake 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 acquiring an additional 1,477 shares in the last quarter. KBC Group NV increased 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 purchasing an additional 1,798 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 2,062 shares during the last quarter. Finally, Swiss National Bank lifted its position in OPENLANE by 1.0% during the fourth quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer's stock valued at $4,238,000 after purchasing an additional 2,100 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KAR. Barrington Research reissued an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $23.00 to $20.00 in a report on Thursday. Finally, StockNews.com upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, OPENLANE presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.20.

OPENLANE Trading Down 7.7 %

Shares of KAR stock traded down $1.61 during trading hours on Thursday, reaching $19.38. 2,295,315 shares of the stock were exchanged, compared to its average volume of 678,390. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The company's 50-day moving average price is $20.80 and its 200-day moving average price is $19.21. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.47.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data 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 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%. On average, sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS 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.