Victory Capital Management Inc. Acquires 30,196 Shares of OPENLANE, Inc. (NYSE:KAR)

Victory Capital Management Inc. raised its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 92.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 62,955 shares of the specialty retailer's stock after acquiring an additional 30,196 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of OPENLANE worth $1,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its stake in OPENLANE by 435.9% during the fourth 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 stake in OPENLANE by 51.1% during 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 in the last quarter. Pacer Advisors Inc. bought a new position in OPENLANE during the fourth quarter worth $187,000. Versor Investments LP bought a new position in OPENLANE during the fourth quarter worth $254,000. Finally, Paloma Partners Management Co bought a new position in OPENLANE during the third quarter worth $333,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KAR shares. StockNews.com upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Thursday. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $20.00 to $26.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

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OPENLANE Stock Performance

KAR stock traded down $0.02 during mid-day trading on Friday, hitting $20.62. The company had a trading volume of 1,880,875 shares, compared to its average volume of 672,984. The firm has a market cap of $2.20 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.47. The stock's fifty day moving average price is $20.76 and its two-hundred day moving average price is $19.12.

OPENLANE (NYSE:KAR - Get Free Report) last posted its earnings results 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 firm had revenue of $455.00 million during the quarter, compared to the consensus estimate of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. Equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.