Massar Capital Management LP Invests $298,000 in OPENLANE, Inc. (NYSE:KAR)

Massar Capital Management LP purchased a new position in OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,035 shares of the specialty retailer's stock, valued at approximately $298,000.

Several other institutional investors also recently modified their holdings of the business. Bank of Montreal Can increased its stake in OPENLANE by 9.6% during the 4th 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 in the last quarter. Carolina Wealth Advisors LLC increased its stake in OPENLANE by 3.7% during the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock valued at $832,000 after purchasing an additional 1,477 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in OPENLANE during the 4th quarter valued at about $34,000. Pictet Asset Management Holding SA increased its stake in OPENLANE by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock valued at $260,000 after purchasing an additional 1,765 shares in the last quarter. Finally, KBC Group NV increased its stake in OPENLANE by 51.1% during the 4th 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 in the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Price Performance

OPENLANE stock remained flat at $18.46 during trading on Friday. The company had a trading volume of 601,201 shares, compared to its average volume of 727,580. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The business's 50 day moving average is $19.93 and its 200-day moving average is $19.60. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. The company 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%. On average, sell-side analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

KAR has been the subject of a number of research reports. Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.75.

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.