Oregon Public Employees Retirement Fund Sells 500 Shares of OPENLANE, Inc. (NYSE:KAR)

Oregon Public Employees Retirement Fund lowered its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,119 shares of the specialty retailer’s stock after selling 500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in OPENLANE were worth $498,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV grew its holdings in shares of 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 during the last quarter. Pacer Advisors Inc. bought a new position in shares of OPENLANE during the 4th quarter valued at $187,000. Creative Planning bought a new position in shares of OPENLANE during the 3rd quarter valued at $193,000. Verdence Capital Advisors LLC grew its holdings in shares of OPENLANE by 5.3% during the 3rd 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 during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of OPENLANE during the 3rd quarter valued at $333,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

KAR has been the topic of several recent research reports. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $20.00 to $26.00 in a report on Friday. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.80.

OPENLANE Trading Up 4.8 %

NYSE:KAR opened at $22.34 on Monday. OPENLANE, Inc. has a 12 month low of $15.13 and a 12 month high of $22.47. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 42.14, a P/E/G ratio of 1.85 and a beta of 1.52. The company has a 50-day moving average price of $20.51 and a 200-day moving average price of $18.73.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $416.64 million. Equities analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

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.