Teacher Retirement System of Texas Purchases 38,415 Shares of OPENLANE, Inc. (NYSE:KAR)

Teacher Retirement System of Texas lifted its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 95.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,604 shares of the specialty retailer's stock after purchasing an additional 38,415 shares during the period. Teacher Retirement System of Texas owned about 0.07% of OPENLANE worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake 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 buying an additional 2,062 shares in the last quarter. KBC Group NV boosted its stake in shares of OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after acquiring an additional 1,798 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of OPENLANE during the fourth quarter worth about $187,000. Versor Investments LP bought a new stake in OPENLANE during the 4th quarter valued at approximately $254,000. Finally, Natixis Advisors LLC raised its stake in OPENLANE by 19.9% during the 4th quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer's stock valued at $300,000 after purchasing an additional 2,512 shares during the period. 99.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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OPENLANE Stock Performance

Shares of NYSE:KAR traded up $0.09 on Wednesday, reaching $20.22. The company's stock had a trading volume of 723,474 shares, compared to its average volume of 723,850. The company has a 50-day simple moving average of $20.75 and a 200 day simple moving average of $19.33. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.47. The company has a market cap of $2.16 billion, a P/E ratio of 38.15, a PEG ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to analysts' expectations 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 forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal 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.