Thrivent Financial for Lutherans Sells 2,713 Shares of OPENLANE, Inc. (NYSE:KAR)

Thrivent Financial for Lutherans trimmed its position in shares of OPENLANE, Inc. (NYSE:KAR) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 82,585 shares of the specialty retailer’s stock after selling 2,713 shares during the period. Thrivent Financial for Lutherans’ holdings in OPENLANE were worth $1,638,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after buying an additional 2,062 shares during the last quarter. KBC Group NV grew its holdings in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of OPENLANE during the fourth quarter worth about $187,000. Versor Investments LP acquired a new stake in shares of OPENLANE in the 4th quarter worth about $254,000. Finally, Natixis Advisors LLC lifted its position in OPENLANE by 19.9% in the 4th quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer’s stock valued at $300,000 after acquiring an additional 2,512 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Down 0.4 %

Shares of KAR opened at $19.27 on Monday. The stock has a 50 day moving average of $20.78 and a 200 day moving average of $19.28. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.85 and a beta of 1.53. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.47.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.