Rhumbline Advisers Has $6.25 Million Position in OPENLANE, Inc. (NYSE:KAR)

Rhumbline Advisers reduced its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 315,158 shares of the specialty retailer's stock after selling 22,474 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of OPENLANE worth $6,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KAR. River Road Asset Management LLC raised its position in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock valued at $85,161,000 after purchasing an additional 671,104 shares during the period. Clifford Capital Partners LLC acquired a new position in shares of OPENLANE during the 3rd quarter worth $10,309,000. Barclays PLC lifted its holdings in shares of OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock worth $3,022,000 after acquiring an additional 138,720 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in OPENLANE by 32.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer's stock valued at $9,206,000 after buying an additional 133,767 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in OPENLANE in the third quarter valued at about $1,440,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have issued reports on KAR shares. JPMorgan Chase & Co. increased their price target on OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Stephens raised shares of 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 report on Friday. Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. Finally, StockNews.com cut shares of OPENLANE from a "buy" rating to a "hold" rating in a report on Saturday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.80.

OPENLANE Stock Performance

NYSE KAR traded up $1.02 during trading on Friday, hitting $22.34. The stock had a trading volume of 1,218,012 shares, compared to its average volume of 661,093. The stock has a 50 day simple moving average of $20.51 and a 200 day simple moving average of $18.73. OPENLANE, Inc. has a one year low of $15.13 and a one year high of $22.47. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 42.14, a P/E/G ratio of 1.85 and a beta of 1.52.

OPENLANE (NYSE:KAR - Get Free Report) last released 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 firm had revenue of $455.00 million during 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%. On average, sell-side analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

OPENLANE 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.