Homestead Advisers Corp Has $3.03 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Homestead Advisers Corp increased its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,500 shares of the specialty retailer's stock after purchasing an additional 38,100 shares during the period. Homestead Advisers Corp owned 0.14% of OPENLANE worth $3,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in OPENLANE by 6.6% in the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock worth $403,000 after buying an additional 1,472 shares during the period. Carolina Wealth Advisors LLC grew its position in OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock worth $832,000 after purchasing an additional 1,477 shares during the last quarter. KBC Group NV raised its holdings in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,062 shares in the last quarter. Finally, Swiss National Bank raised its holdings in OPENLANE by 1.0% during the fourth quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer's stock worth $4,238,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $20.00 in a report on Thursday. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, OPENLANE currently has a consensus rating of "Moderate Buy" and an average price target of $22.20.

OPENLANE Stock Performance

Shares of KAR stock traded down $0.08 during trading on Monday, hitting $19.21. 177,579 shares of the company were exchanged, compared to its average volume of 718,215. The business's 50-day simple moving average is $20.78 and its 200 day simple moving average is $19.28. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.47. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 1.85 and a beta of 1.53.

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 analysts' consensus estimates of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, equities analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal 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.