OPENLANE Sees Unusually High Options Volume (NYSE:KAR)

OPENLANE, Inc. (NYSE:KAR - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 2,353 call options on the stock. This represents an increase of approximately 2,956% compared to the average volume of 77 call options.

OPENLANE Stock Performance

NYSE:KAR traded down $0.83 during trading hours on Friday, hitting $18.01. 2,653,276 shares of the company's stock traded hands, compared to its average volume of 733,273. The firm has a market cap of $1.93 billion, a P/E ratio of 33.98, a P/E/G ratio of 1.85 and a beta of 1.38. OPENLANE has a twelve month low of $15.44 and a twelve month high of $22.47. The stock's fifty day moving average price is $20.67 and its two-hundred day moving average price is $19.36.

OPENLANE (NYSE:KAR - Get Free Report) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. On average, equities research analysts predict that OPENLANE will post 0.95 earnings per share for the current year.

Hedge Funds Weigh In On OPENLANE

Several institutional investors and hedge funds have recently modified their holdings of KAR. Canada Pension Plan Investment Board purchased a new position in OPENLANE in the fourth quarter valued at about $34,000. Quarry LP grew its stake in shares of OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after buying an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new position in OPENLANE during the fourth quarter valued at approximately $68,000. Finally, KBC Group NV lifted its stake in OPENLANE by 51.1% in the fourth 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. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KAR shares. StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $20.00 to $26.00 in a report on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.20.

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.