Massar Capital Management LP Buys Shares of 15,035 OPENLANE, Inc. (NYSE:KAR)

Massar Capital Management LP bought a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,035 shares of the specialty retailer's stock, valued at approximately $298,000.

A number of other large investors have also recently added to or reduced their stakes in KAR. TFJ Management LLC acquired a new stake in shares of OPENLANE during the 4th quarter valued at $14,465,000. MetLife Investment Management LLC boosted its position in shares of OPENLANE by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 65,486 shares of the specialty retailer's stock valued at $1,299,000 after purchasing an additional 3,600 shares during the period. First Trust Advisors LP increased its stake in OPENLANE by 197.6% in the 4th quarter. First Trust Advisors LP now owns 219,411 shares of the specialty retailer's stock worth $4,353,000 after purchasing an additional 145,673 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in OPENLANE during the 4th quarter worth about $34,000. Finally, Advisory Research Inc. purchased a new stake in OPENLANE during the fourth quarter valued at about $9,761,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Performance

Shares of NYSE:KAR remained flat at $18.46 during trading on Friday. 601,201 shares of the company's stock were exchanged, compared to its average volume of 726,480. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 1.85 and a beta of 1.38. The company has a fifty day simple moving average of $19.93 and a two-hundred day simple moving average of $19.55.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million during the quarter, compared to analysts' expectations of $416.64 million. As a group, research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KAR shares. Barrington Research restated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. StockNews.com lowered OPENLANE from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Finally, Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.