Bank of Montreal Can Raises Position in OPENLANE, Inc. (NYSE:KAR)

Bank of Montreal Can grew its position in shares of OPENLANE, Inc. (NYSE:KAR) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,268 shares of the specialty retailer’s stock after buying an additional 1,161 shares during the quarter. Bank of Montreal Can’s holdings in OPENLANE were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in OPENLANE by 344.7% during the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after purchasing an additional 138,720 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of OPENLANE by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer’s stock valued at $2,355,000 after buying an additional 10,962 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock worth $832,000 after buying an additional 1,477 shares in the last quarter. KBC Group NV increased its holdings in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,798 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in OPENLANE in the 4th quarter worth about $187,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Performance

Shares of OPENLANE stock opened at $18.48 on Friday. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The stock has a market cap of $1.98 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.85 and a beta of 1.38. The stock’s fifty day moving average is $19.96 and its 200 day moving average is $19.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $416.64 million. Analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. downgraded 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, March 27th. Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 target price 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 three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.75.

OPENLANE Company 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.