Thrivent Financial for Lutherans Has $1.64 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Thrivent Financial for Lutherans trimmed its position in OPENLANE, Inc. (NYSE:KAR) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 82,585 shares of the specialty retailer’s stock after selling 2,713 shares during the period. Thrivent Financial for Lutherans owned 0.08% of OPENLANE worth $1,638,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in OPENLANE by 435.9% during 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 during the period. KBC Group NV raised its stake in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after acquiring an additional 1,798 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of OPENLANE during the fourth quarter worth $187,000. Versor Investments LP bought a new stake in shares of OPENLANE in the fourth quarter worth $254,000. Finally, Natixis Advisors LLC increased its holdings in OPENLANE by 19.9% in the fourth 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. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of OPENLANE stock opened at $19.27 on Monday. The stock’s 50-day moving average is $20.78 and its 200 day moving average is $19.28. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results 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. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. On average, sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on KAR shares. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a report on Friday. Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $26.00 in a report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. downgraded shares of OPENLANE from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $20.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.20.

About OPENLANE

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.