OPENLANE, Inc. (NYSE:KAR) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in OPENLANE, Inc. (NYSE:KAR) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,125 shares of the specialty retailer’s stock after buying an additional 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in OPENLANE were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. River Road Asset Management LLC raised its position in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after buying an additional 671,104 shares during the last quarter. Geode Capital Management LLC increased its position in OPENLANE by 1.4% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. increased 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 worth $29,708,000 after purchasing an additional 6,469 shares during the last quarter. Clifford Capital Partners LLC acquired a new stake in OPENLANE during the third quarter worth about $10,309,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in OPENLANE by 32.5% during 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 purchasing an additional 133,767 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Price Performance

Shares of KAR stock opened at $22.34 on Friday. The firm has a market cap of $2.39 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52. The company has a 50-day moving average of $20.47 and a two-hundred day moving average of $18.68. OPENLANE, Inc. has a 1-year low of $15.13 and a 1-year 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 for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. Sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $26.00 in a research report on Friday. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

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.