140,000 Shares in OPENLANE, Inc. (NYSE:KAR) Acquired by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. purchased a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 140,000 shares of the specialty retailer's stock, valued at approximately $2,778,000. Icon Advisers Inc. Co. owned about 0.13% of OPENLANE as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of OPENLANE by 5.7% in the 4th quarter. Barclays PLC now owns 189,117 shares of the specialty retailer's stock valued at $3,753,000 after purchasing an additional 10,153 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of OPENLANE in the 4th quarter valued at $5,822,000. Legal & General Group Plc raised its stake in shares of OPENLANE by 1.0% in the fourth quarter. Legal & General Group Plc now owns 304,528 shares of the specialty retailer's stock worth $6,042,000 after purchasing an additional 3,021 shares during the last quarter. Invesco Ltd. raised its position in OPENLANE by 7.7% during the 4th quarter. Invesco Ltd. now owns 866,013 shares of the specialty retailer's stock worth $17,182,000 after buying an additional 61,762 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in OPENLANE by 9.6% during the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after purchasing an additional 1,161 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Price Performance

Shares of KAR traded up $0.12 during mid-day trading on Friday, reaching $18.71. The stock had a trading volume of 670,155 shares, compared to its average volume of 733,862. The business's fifty day moving average is $20.18 and its 200 day moving average is $19.45. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.47. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, sell-side analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.