Raymond James Financial Inc. Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Raymond James Financial Inc. purchased a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 293,425 shares of the specialty retailer's stock, valued at approximately $5,822,000. Raymond James Financial Inc. owned approximately 0.27% of OPENLANE as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Clifford Capital Partners LLC acquired a new position in OPENLANE in the 3rd quarter worth $10,309,000. Geode Capital Management LLC lifted its holdings in shares of OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock valued at $41,799,000 after purchasing an additional 35,214 shares in the last quarter. Versor Investments LP acquired a new position in shares of OPENLANE during the fourth quarter worth about $254,000. Barclays PLC grew its holdings in shares of OPENLANE by 344.7% during the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock worth $3,022,000 after buying an additional 138,720 shares in the last quarter. Finally, Guidance Capital Inc. acquired a new stake in OPENLANE in the 4th quarter valued at approximately $472,000. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Trading Down 0.4 %

Shares of KAR traded down $0.08 during mid-day trading on Friday, reaching $19.27. The company's stock had a trading volume of 930,092 shares, compared to its average volume of 721,051. The stock has a market cap of $2.06 billion, a P/E ratio of 36.35, a PEG ratio of 1.85 and a beta of 1.53. The business has a 50-day simple moving average of $20.78 and a two-hundred day simple moving average of $19.23. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.47.

OPENLANE (NYSE:KAR - Get Free Report) last announced its 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. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The company had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. Research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.