Icon Advisers Inc. Co. Acquires Shares of 140,000 OPENLANE, Inc. (NYSE:KAR)

Icon Advisers Inc. Co. acquired a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,000 shares of the specialty retailer's stock, valued at approximately $2,778,000. Icon Advisers Inc. Co. owned 0.13% of OPENLANE at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in shares of OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 2,062 shares during the period. KBC Group NV grew its stake in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after acquiring an additional 1,798 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of OPENLANE during the fourth quarter worth approximately $187,000. Versor Investments LP purchased a new stake in shares of OPENLANE in the fourth quarter valued at approximately $254,000. Finally, Pictet Asset Management Holding SA grew its stake 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 purchasing an additional 1,765 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Performance

Shares of OPENLANE stock traded up $0.12 on Friday, hitting $18.71. The company's stock had a trading volume of 670,155 shares, compared to its average volume of 733,832. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The firm has a fifty day moving average price of $20.18 and a 200-day moving average price of $19.45. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last announced 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. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

KAR has been the subject of a number of recent research reports. StockNews.com downgraded shares of 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 price objective for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, OPENLANE presently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

OPENLANE Company 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.