Teacher Retirement System of Texas Buys 38,415 Shares of OPENLANE, Inc. (NYSE:KAR)

Teacher Retirement System of Texas boosted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 95.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,604 shares of the specialty retailer’s stock after purchasing an additional 38,415 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of OPENLANE worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in KAR. Geode Capital Management LLC lifted its position in shares of OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after buying an additional 35,214 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 6,469 shares in the last quarter. William Blair Investment Management LLC grew its holdings in OPENLANE by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer’s stock worth $29,641,000 after purchasing an additional 35,164 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of OPENLANE by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock worth $17,550,000 after purchasing an additional 111,798 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of OPENLANE during the 4th quarter valued at $15,793,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com downgraded 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 dropped their price target for the stock from $23.00 to $20.00 in a research note on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Finally, Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

OPENLANE Stock Down 0.4 %

OPENLANE stock opened at $19.27 on Friday. The stock has a 50-day moving average price of $20.78 and a 200 day moving average price of $19.23. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47.

OPENLANE (NYSE:KAR) last announced 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. The business had revenue of $455.00 million during 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%. Research analysts anticipate 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.