Geode Capital Management LLC Lowers Holdings in OPENLANE, Inc. (NYSE:KAR)

Geode Capital Management LLC cut its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,448,762 shares of the specialty retailer's stock after selling 26,979 shares during the quarter. Geode Capital Management LLC owned 2.29% of OPENLANE worth $48,595,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its stake in shares of OPENLANE by 344.7% during the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after buying an additional 138,720 shares during the last quarter. JPMorgan Chase & Co. grew its position in OPENLANE by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer's stock worth $2,355,000 after acquiring an additional 10,962 shares during the last quarter. Carolina Wealth Advisors LLC increased its stake 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 purchasing an additional 1,477 shares during the period. KBC Group NV lifted its position in OPENLANE by 51.1% in 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, Pacer Advisors Inc. bought a new stake in OPENLANE in the fourth quarter valued at approximately $187,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Up 0.6 %

NYSE KAR traded up $0.12 during trading on Friday, hitting $18.71. The company had a trading volume of 670,155 shares, compared to its average volume of 732,548. The company's fifty day moving average is $20.13 and its 200-day moving average is $19.49. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on KAR shares. 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 note on Thursday, March 27th. Stephens raised shares of 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 note on Friday, February 28th. Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. Finally, StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.