William Blair Investment Management LLC Has $29.64 Million Stake in OPENLANE, Inc. (NYSE:KAR)

William Blair Investment Management LLC raised its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,493,988 shares of the specialty retailer's stock after buying an additional 35,164 shares during the quarter. William Blair Investment Management LLC owned 1.40% of OPENLANE worth $29,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,062 shares during the last quarter. KBC Group NV grew its holdings in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in OPENLANE in the 4th quarter valued at approximately $187,000. Versor Investments LP acquired a new stake in OPENLANE in the 4th quarter valued at approximately $254,000. Finally, Natixis Advisors LLC lifted its position in shares of OPENLANE by 19.9% in the 4th quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer's stock worth $300,000 after acquiring an additional 2,512 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Price Performance

Shares of OPENLANE stock traded down $0.02 during midday trading on Friday, hitting $20.62. 1,880,875 shares of the company were exchanged, compared to its average volume of 672,634. The firm has a market cap of $2.20 billion, a P/E ratio of 38.91, a PEG ratio of 1.85 and a beta of 1.53. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47. The firm has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $19.11.

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OPENLANE (NYSE:KAR - Get Free Report) last posted 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. The business had revenue of $455.00 million during 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%. Equities research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Analyst Ratings Changes

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

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.