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) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,780 shares of the specialty retailer’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE during the third quarter valued at about $10,309,000. Geode Capital Management LLC boosted its position in shares of OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares during the period. Barclays PLC increased its holdings in OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after purchasing an additional 138,720 shares during the last quarter. Guidance Capital Inc. purchased a new stake in OPENLANE in the fourth quarter valued at approximately $472,000. Finally, River Road Asset Management LLC lifted its stake in OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after purchasing an additional 671,104 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. boosted their price target on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $26.00 in a research report on Friday. Finally, Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, OPENLANE currently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

OPENLANE Stock Performance

Shares of KAR opened at $22.15 on Tuesday. OPENLANE, Inc. has a 1 year low of $15.43 and a 1 year high of $22.47. The stock has a market capitalization of $2.37 billion, a PE ratio of 41.79, a PEG ratio of 1.85 and a beta of 1.52. The stock has a 50-day simple moving average of $20.51 and a 200-day simple moving average of $18.74.

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, topping 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 the consensus estimate of $416.64 million. Analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

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.