OPENLANE, Inc. (NYSE:KAR) Stock Holdings Lifted by Swiss National Bank

Swiss National Bank increased its holdings in OPENLANE, Inc. (NYSE:KAR) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 213,600 shares of the specialty retailer’s stock after buying an additional 2,100 shares during the period. Swiss National Bank owned about 0.20% of OPENLANE worth $4,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KAR. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 35,214 shares during the period. Charles Schwab Investment Management Inc. boosted its position in OPENLANE by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after purchasing an additional 6,469 shares during the period. Bank of New York Mellon Corp grew its stake in OPENLANE by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock worth $17,550,000 after buying an additional 111,798 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in OPENLANE by 25.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 686,723 shares of the specialty retailer’s stock worth $13,625,000 after buying an additional 141,319 shares during the period. Finally, Clifford Capital Partners LLC bought a new stake in OPENLANE in the third quarter valued at $10,309,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Trading Up 0.4 %

OPENLANE stock opened at $21.15 on Wednesday. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 1.85 and a beta of 1.53. The company’s 50-day moving average price is $20.80 and its two-hundred day moving average price is $19.20.

OPENLANE (NYSE:KAR) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $416.64 million. Research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Finally, StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average 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.