Advisory Research Inc. Acquires New Shares in OPENLANE, Inc. (NYSE:KAR)

Advisory Research Inc. purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 492,011 shares of the specialty retailer's stock, valued at approximately $9,761,000. OPENLANE comprises about 1.6% of Advisory Research Inc.'s portfolio, making the stock its 22nd largest position. Advisory Research Inc. owned 0.46% of OPENLANE as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in KAR. Bank of Montreal Can boosted its holdings in shares of OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after acquiring an additional 1,161 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in OPENLANE by 3.7% in the fourth 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 during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of OPENLANE by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock worth $260,000 after acquiring an additional 1,765 shares in the last quarter. KBC Group NV lifted its holdings in shares of OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,062 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com cut shares of OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OPENLANE currently has an average rating of "Moderate Buy" and an average target price of $22.75.

OPENLANE Stock Up 2.5 %

KAR traded up $0.46 during trading on Tuesday, reaching $18.72. 149,028 shares of the company's stock were exchanged, compared to its average volume of 729,570. The business has a 50 day moving average price of $20.08 and a 200 day moving average price of $19.53. The company has a market capitalization of $2.00 billion, a P/E ratio of 35.27, a PEG ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.47.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $455.00 million for 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, research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current 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.