OPENLANE, Inc. (NYSE:KAR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in OPENLANE, Inc. (NYSE:KAR) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,722 shares of the specialty retailer’s stock after selling 1,262 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of OPENLANE worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. River Road Asset Management LLC grew its position in OPENLANE by 15.3% in the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after acquiring an additional 671,104 shares in the last quarter. Geode Capital Management LLC grew its position in OPENLANE by 1.4% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in OPENLANE by 0.4% in 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 acquiring an additional 6,469 shares in the last quarter. Clifford Capital Partners LLC acquired a new position in OPENLANE in the 3rd quarter valued at about $10,309,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in OPENLANE by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock valued at $9,206,000 after acquiring an additional 133,767 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Monday, November 4th. Stephens assumed coverage on OPENLANE in a research note on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price objective for the company. Finally, StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Sunday, January 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

OPENLANE Stock Down 3.2 %

KAR stock opened at $20.45 on Thursday. The business has a 50 day moving average price of $20.38 and a 200 day moving average price of $18.42. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.84 and a beta of 1.52. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $21.51.

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.