Integrated Quantitative Investments LLC Acquires New Holdings in OPENLANE, Inc. (NYSE:KAR)

Integrated Quantitative Investments LLC purchased a new position in OPENLANE, Inc. (NYSE:KAR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 70,400 shares of the specialty retailer's stock, valued at approximately $1,397,000. OPENLANE makes up about 0.7% of Integrated Quantitative Investments LLC's investment portfolio, making the stock its 20th largest holding. Integrated Quantitative Investments LLC owned 0.07% of OPENLANE at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in OPENLANE by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 622,190 shares of the specialty retailer's stock valued at $12,344,000 after purchasing an additional 56,531 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of OPENLANE by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock valued at $260,000 after buying an additional 1,765 shares during the last quarter. Norges Bank acquired a new stake in OPENLANE during the fourth quarter worth about $7,007,000. Homestead Advisers Corp lifted its holdings in OPENLANE by 33.3% in the fourth quarter. Homestead Advisers Corp now owns 152,500 shares of the specialty retailer's stock worth $3,026,000 after acquiring an additional 38,100 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in OPENLANE by 119.4% in the fourth quarter. JPMorgan Chase & Co. now owns 306,038 shares of the specialty retailer's stock valued at $6,072,000 after acquiring an additional 166,536 shares during the period. 99.76% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

KAR has been the subject of several recent analyst reports. StockNews.com cut shares of OPENLANE from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered 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 report on Thursday, March 27th. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.20.

OPENLANE Stock Performance

Shares of NYSE KAR traded up $0.04 during mid-day trading on Wednesday, reaching $17.61. The company had a trading volume of 181,454 shares, compared to its average volume of 735,015. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 1.85 and a beta of 1.38. The stock has a fifty day moving average of $20.48 and a two-hundred day moving average of $19.38. 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. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The business had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. Sell-side 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.