OPENLANE, Inc. (NYSE:KAR) Position Cut by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC trimmed its stake in OPENLANE, Inc. (NYSE:KAR) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 106,857 shares of the specialty retailer’s stock after selling 782 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in OPENLANE were worth $2,120,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kimelman & Baird LLC bought a new stake in OPENLANE in the fourth quarter valued at $15,793,000. Natixis Advisors LLC lifted its stake in OPENLANE by 19.9% in the fourth quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer’s stock valued at $300,000 after buying an additional 2,512 shares during the last quarter. Swiss National Bank raised its stake in shares of OPENLANE by 1.0% during the fourth quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer’s stock valued at $4,238,000 after purchasing an additional 2,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of OPENLANE by 25.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 686,723 shares of the specialty retailer’s stock valued at $13,625,000 after purchasing an additional 141,319 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of OPENLANE during the fourth quarter valued at about $5,822,000. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KAR. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Two 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

OPENLANE Trading Up 2.7 %

Shares of OPENLANE stock opened at $20.70 on Monday. The company’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $19.01. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47. The stock has a market cap of $2.21 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts predict that OPENLANE, Inc. will post 0.95 EPS 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.