OPENLANE, Inc. (NYSE:KAR) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 95.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,604 shares of the specialty retailer’s stock after purchasing an additional 38,415 shares during the quarter. Teacher Retirement System of Texas’ holdings in OPENLANE were worth $1,560,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KAR. BNP Paribas Financial Markets grew its position in OPENLANE by 6.6% during the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock valued at $403,000 after buying an additional 1,472 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 worth $832,000 after acquiring an additional 1,477 shares in the last quarter. KBC Group NV grew its position 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 acquiring an additional 1,798 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of 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. Finally, Swiss National Bank boosted its position in OPENLANE by 1.0% during the fourth quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer’s stock worth $4,238,000 after purchasing an additional 2,100 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Thursday. Stephens upgraded 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 research report on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Finally, StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.20.

OPENLANE Stock Down 0.4 %

Shares of KAR opened at $19.27 on Friday. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.47. The stock has a fifty day simple moving average of $20.78 and a two-hundred day simple moving average of $19.23. The company has a market capitalization of $2.06 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $416.64 million. As a group, equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share 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.