OPENLANE, Inc. (NYSE:KAR) Shares Bought by Zuckerman Investment Group LLC

Zuckerman Investment Group LLC grew its position in shares of OPENLANE, Inc. (NYSE:KAR) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,014,677 shares of the specialty retailer’s stock after purchasing an additional 1,243 shares during the quarter. OPENLANE accounts for 2.0% of Zuckerman Investment Group LLC’s portfolio, making the stock its 20th largest position. Zuckerman Investment Group LLC’s holdings in OPENLANE were worth $20,324,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KAR. Smartleaf Asset Management LLC increased its holdings in shares of OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 2,062 shares during the last quarter. KBC Group NV increased its holdings in OPENLANE by 51.1% during the 4th 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 position in OPENLANE in the 4th quarter worth approximately $187,000. Versor Investments LP acquired a new position in OPENLANE in the fourth quarter valued at approximately $254,000. Finally, Pictet Asset Management Holding SA raised its position in shares of OPENLANE by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer’s stock valued at $260,000 after acquiring an additional 1,765 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of NYSE:KAR opened at $18.98 on Thursday. The company’s fifty day moving average price is $20.42 and its 200-day moving average price is $19.39. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. As a group, equities research analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

KAR has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded OPENLANE from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $20.00 in a research report on Thursday, March 27th. StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. Finally, Stephens raised 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

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.