OPENLANE, Inc. (NYSE:KAR) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in OPENLANE, Inc. (NYSE:KAR) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,754,498 shares of the specialty retailer’s stock after selling 5,454 shares during the period. Charles Schwab Investment Management Inc.’s holdings in OPENLANE were worth $34,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KAR. Smartleaf Asset Management LLC lifted its holdings in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 2,062 shares in the last quarter. KBC Group NV lifted its holdings in OPENLANE by 51.1% in 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 in the last quarter. Pacer Advisors Inc. purchased a new position in OPENLANE in the 4th quarter valued at about $187,000. Versor Investments LP purchased a new position in OPENLANE in the 4th quarter valued at about $254,000. Finally, Paloma Partners Management Co purchased a new position in OPENLANE in the 3rd quarter valued at about $333,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KAR shares. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $26.00 in a report on Friday, February 28th. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Finally, 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.80.

OPENLANE Stock Performance

KAR opened at $20.70 on Monday. The company’s 50 day simple moving average is $20.70 and its 200 day simple moving average is $19.01. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The stock has a market capitalization of $2.21 billion, a PE ratio of 39.06, a P/E/G ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. As a group, sell-side analysts expect that OPENLANE, Inc. will post 0.95 earnings per share 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.