OPENLANE, Inc. (NYSE:KAR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 4.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 107,100 shares of the specialty retailer’s stock after selling 5,220 shares during the period. State of New Jersey Common Pension Fund D’s holdings in OPENLANE were worth $2,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. River Road Asset Management LLC lifted its position in shares of OPENLANE by 15.3% during the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after acquiring an additional 671,104 shares during the period. Geode Capital Management LLC lifted its position in shares of OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after acquiring an additional 35,214 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of OPENLANE by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after acquiring an additional 6,469 shares during the period. Clifford Capital Partners LLC acquired a new position in shares of OPENLANE during the 3rd quarter worth approximately $10,309,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of OPENLANE by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock worth $9,206,000 after purchasing an additional 133,767 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on KAR shares. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday. Stephens started coverage on OPENLANE in a research note on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. upped their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

OPENLANE Stock Performance

Shares of KAR opened at $20.96 on Friday. The stock has a fifty day moving average of $20.39 and a two-hundred day moving average of $18.57. The company has a market capitalization of $2.24 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52. OPENLANE, Inc. has a fifty-two week low of $14.45 and a fifty-two week high of $21.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million during the quarter, compared to the consensus estimate 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 forecast 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.