OPENLANE, Inc. (NYSE:KAR) Stock Holdings Decreased by CenterBook Partners LP

CenterBook Partners LP trimmed its position in OPENLANE, Inc. (NYSE:KAR) by 66.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,909 shares of the specialty retailer’s stock after selling 277,621 shares during the period. CenterBook Partners LP owned 0.13% of OPENLANE worth $2,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of OPENLANE in the 4th quarter valued at approximately $5,822,000. Legal & General Group Plc raised its stake in OPENLANE by 1.0% during the fourth quarter. Legal & General Group Plc now owns 304,528 shares of the specialty retailer’s stock worth $6,042,000 after acquiring an additional 3,021 shares during the period. Invesco Ltd. lifted its holdings in OPENLANE by 7.7% in the fourth quarter. Invesco Ltd. now owns 866,013 shares of the specialty retailer’s stock worth $17,182,000 after acquiring an additional 61,762 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of OPENLANE by 9.6% during the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of OPENLANE by 6.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,970 shares of the specialty retailer’s stock worth $1,269,000 after purchasing an additional 3,799 shares during the period. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Up 8.0 %

Shares of NYSE KAR opened at $18.98 on Thursday. The business has a fifty day simple moving average of $20.42 and a 200-day simple moving average of $19.39. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.47.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping 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, sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KAR shares. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $20.00 in a research report on Thursday, March 27th. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Finally, Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.