OPENLANE, Inc. (NYSE:KAR) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in OPENLANE, Inc. (NYSE:KAR) by 71.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,746 shares of the specialty retailer’s stock after selling 23,988 shares during the period. Quantbot Technologies LP’s holdings in OPENLANE were worth $193,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of OPENLANE by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after purchasing an additional 6,469 shares during the period. BNP Paribas Financial Markets grew its holdings in OPENLANE by 6.6% in the 3rd 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. PDT Partners LLC grew its holdings in OPENLANE by 128.7% in the 3rd quarter. PDT Partners LLC now owns 38,852 shares of the specialty retailer’s stock valued at $656,000 after buying an additional 21,866 shares during the period. Paloma Partners Management Co acquired a new position in shares of OPENLANE during the 3rd quarter valued at about $333,000. Finally, Barclays PLC lifted its holdings in shares of OPENLANE by 344.7% during the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after acquiring an additional 138,720 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KAR. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $20.00 in a research report on Thursday. Finally, Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, OPENLANE has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

OPENLANE Trading Down 0.4 %

Shares of KAR stock opened at $19.27 on Monday. The company has a market cap of $2.06 billion, a PE ratio of 36.35, a P/E/G ratio of 1.85 and a beta of 1.53. The company’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $19.28. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. Equities research analysts expect that OPENLANE, Inc. will post 0.95 EPS 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.