CenterBook Partners LP Reduces Holdings in OPENLANE, Inc. (NYSE:KAR)

CenterBook Partners LP decreased its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 66.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,909 shares of the specialty retailer's stock after selling 277,621 shares during the quarter. CenterBook Partners LP owned 0.13% of OPENLANE worth $2,815,000 at the end of the most recent reporting period.

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

OPENLANE Price Performance

NYSE:KAR traded up $0.10 during mid-day trading on Tuesday, hitting $18.73. The company's stock had a trading volume of 160,751 shares, compared to its average volume of 734,696. The business's fifty day moving average is $20.31 and its two-hundred day moving average is $19.45. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 1.85 and a beta of 1.38.

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OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The business 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%. Analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KAR. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

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.