796,040 Shares in OPENLANE, Inc. (NYSE:KAR) Acquired by Kimelman & Baird LLC

Kimelman & Baird LLC purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 796,040 shares of the specialty retailer's stock, valued at approximately $15,793,000. OPENLANE comprises approximately 1.3% of Kimelman & Baird LLC's holdings, making the stock its 26th biggest position. Kimelman & Baird LLC owned approximately 0.75% of OPENLANE at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State of New Jersey Common Pension Fund D raised its position in OPENLANE by 0.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer's stock worth $1,896,000 after acquiring an additional 1,018 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of OPENLANE by 6.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock worth $403,000 after purchasing an additional 1,472 shares in the last quarter. Carolina Wealth Advisors LLC raised its position in shares of OPENLANE by 3.7% during 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 lifted 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 valued at $105,000 after buying an additional 1,798 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in 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 buying an additional 2,062 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KAR. Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. StockNews.com raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.80.

OPENLANE Stock Performance

NYSE KAR traded down $0.02 during trading hours on Friday, hitting $20.62. 1,880,875 shares of the company's stock were exchanged, compared to its average volume of 673,291. The business's 50 day moving average is $20.74 and its 200-day moving average is $19.08. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.47. The firm has a market capitalization of $2.20 billion, a P/E ratio of 38.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 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 the consensus estimate of $416.64 million. As a group, equities research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

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.