OPENLANE, Inc. (NYSE:KAR) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council increased its position in OPENLANE, Inc. (NYSE:KAR) by 121.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,203 shares of the specialty retailer’s stock after buying an additional 27,500 shares during the period. South Dakota Investment Council’s holdings in OPENLANE were worth $996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River Road Asset Management LLC raised its holdings in shares of OPENLANE by 15.3% in the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after purchasing an additional 671,104 shares during the period. Geode Capital Management LLC increased its position in OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in OPENLANE by 0.4% during 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 buying an additional 6,469 shares in the last quarter. Clifford Capital Partners LLC purchased a new stake in OPENLANE during the third quarter worth approximately $10,309,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OPENLANE by 32.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock worth $9,206,000 after acquiring an additional 133,767 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

KAR has been the subject of a number of research reports. Stephens began coverage on shares of OPENLANE in a research report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price target for the company. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, OPENLANE presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

OPENLANE Price Performance

Shares of OPENLANE stock opened at $20.96 on Monday. OPENLANE, Inc. has a 1-year low of $14.45 and a 1-year high of $21.93. The company has a market capitalization of $2.24 billion, a PE ratio of 39.54, a P/E/G ratio of 1.85 and a beta of 1.52. The business has a 50-day moving average of $20.39 and a 200-day moving average of $18.58.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data 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. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, equities analysts expect 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.