Keeley Teton Advisors LLC Reduces Stake in OPENLANE, Inc. (NYSE:KAR)

Keeley Teton Advisors LLC cut its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,342 shares of the specialty retailer’s stock after selling 15,448 shares during the period. Keeley Teton Advisors LLC owned 0.09% of OPENLANE worth $1,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can increased its position in OPENLANE by 9.6% during the 4th 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 period. Carolina Wealth Advisors LLC boosted its stake in shares of OPENLANE by 3.7% during the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock valued at $832,000 after purchasing an additional 1,477 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of OPENLANE by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer’s stock valued at $260,000 after buying an additional 1,765 shares during the period. KBC Group NV raised its stake in OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,798 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after buying an additional 2,062 shares during the period. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Performance

NYSE KAR opened at $18.77 on Wednesday. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The stock has a 50-day moving average of $20.27 and a 200 day moving average of $19.44. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.85 and a beta of 1.38.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of 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 report on Thursday, March 27th. Finally, Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.75.

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.