Smartleaf Asset Management LLC Acquires 2,062 Shares of OPENLANE, Inc. (NYSE:KAR)

Smartleaf Asset Management LLC boosted its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 435.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,535 shares of the specialty retailer’s stock after acquiring an additional 2,062 shares during the period. Smartleaf Asset Management LLC’s holdings in OPENLANE were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,798 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of OPENLANE in the fourth quarter valued at about $187,000. Creative Planning bought a new stake in shares of OPENLANE in the third quarter valued at about $193,000. Versor Investments LP bought a new stake in shares of OPENLANE in the fourth quarter valued at about $254,000. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of OPENLANE by 5.3% in the third quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 793 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Up 0.8 %

OPENLANE stock opened at $21.49 on Tuesday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 1.85 and a beta of 1.53. The stock’s 50 day moving average is $20.62 and its 200-day moving average is $18.89. OPENLANE, Inc. has a 12 month low of $15.43 and a 12 month high of $22.47.

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 business had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on KAR. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $26.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.