Versor Investments LP Invests $254,000 in OPENLANE, Inc. (NYSE:KAR)

Versor Investments LP acquired a new position in shares of OPENLANE, Inc. (NYSE:KAR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 12,780 shares of the specialty retailer’s stock, valued at approximately $254,000.

Other institutional investors have also modified their holdings of the company. River Road Asset Management LLC grew its position in shares of 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 buying an additional 671,104 shares during the last quarter. Geode Capital Management LLC boosted its stake in OPENLANE by 1.4% in the third 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 holdings in shares of OPENLANE by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after purchasing an additional 6,469 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of OPENLANE by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock worth $17,550,000 after purchasing an additional 111,798 shares in the last quarter. Finally, Clifford Capital Partners LLC purchased a new stake in shares of OPENLANE in the 3rd quarter valued at about $10,309,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KAR shares. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Stephens raised shares of 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 report on Friday. Finally, StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. 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.com, OPENLANE currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

OPENLANE Trading Down 0.7 %

NYSE:KAR opened at $22.15 on Tuesday. OPENLANE, Inc. has a 12-month low of $15.43 and a 12-month high of $22.47. The stock’s 50 day simple moving average is $20.51 and its 200-day simple moving average is $18.74. The firm has a market cap of $2.37 billion, a P/E ratio of 41.79, a PEG ratio of 1.85 and a beta of 1.52.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data 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. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The company had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. Research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

About OPENLANE

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.