Lazard Asset Management LLC Has $2.80 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Lazard Asset Management LLC lifted its position in OPENLANE, Inc. (NYSE:KAR - Free Report) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,115 shares of the specialty retailer's stock after purchasing an additional 70,574 shares during the quarter. Lazard Asset Management LLC owned about 0.13% of OPENLANE worth $2,799,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in KAR. Brown Advisory Inc. purchased a new stake in shares of OPENLANE in the fourth quarter valued at approximately $43,941,000. Kimelman & Baird LLC acquired a new stake in shares of OPENLANE during the 4th quarter valued at about $15,793,000. TFJ Management LLC acquired a new stake in OPENLANE in the 4th quarter worth about $14,465,000. Advisory Research Inc. acquired a new stake in OPENLANE in the 4th quarter worth about $9,761,000. Finally, Norges Bank purchased a new stake in shares of OPENLANE during the 4th quarter valued at approximately $7,007,000. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Down 0.0%

OPENLANE stock traded down $0.01 on Tuesday, hitting $22.45. The company's stock had a trading volume of 651,949 shares, compared to its average volume of 731,681. The company has a fifty day moving average price of $19.69 and a 200-day moving average price of $20.10. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.86. The firm has a market cap of $2.41 billion, a P/E ratio of 42.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.07. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The business had revenue of $460.10 million for the quarter, compared to the consensus estimate of $445.70 million. During the same period last year, the company posted $0.19 EPS. OPENLANE's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analysts Set New Price Targets

KAR has been the subject of a number of analyst reports. Stephens upgraded 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 note on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. StockNews.com raised shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Barrington Research restated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st.

Insider Activity

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total value of $152,040.00. Following the transaction, the executive vice president now owns 36,511 shares in the company, valued at $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.51% of the stock is currently owned by insiders.

OPENLANE 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.