Louisiana State Employees Retirement System Has $1.03 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Louisiana State Employees Retirement System lessened its stake in OPENLANE, Inc. (NYSE:KAR) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,700 shares of the specialty retailer’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in OPENLANE were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. River Road Asset Management LLC boosted its holdings in OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after purchasing an additional 671,104 shares during the last quarter. Clifford Capital Partners LLC acquired a new position in OPENLANE during the third quarter worth $10,309,000. Barclays PLC boosted its holdings in OPENLANE by 344.7% during the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after purchasing an additional 138,720 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in OPENLANE by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock worth $9,206,000 after purchasing an additional 133,767 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of OPENLANE in the 3rd quarter valued at about $1,440,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Stock Up 0.2 %

Shares of OPENLANE stock opened at $20.61 on Tuesday. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $21.51. The company has a 50-day simple moving average of $20.40 and a two-hundred day simple moving average of $18.48. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.52.

Analysts Set New Price Targets

A number of research analysts have recently commented on KAR shares. Stephens initiated coverage on shares of OPENLANE in a research report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price objective for the company. StockNews.com raised shares of OPENLANE from a “hold” rating to a “buy” rating in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, OPENLANE presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

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.