Raymond James Financial Inc. Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Raymond James Financial Inc. acquired a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 293,425 shares of the specialty retailer's stock, valued at approximately $5,822,000. Raymond James Financial Inc. owned 0.27% of OPENLANE at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KAR. Hillsdale Investment Management Inc. purchased a new position in shares of OPENLANE during the 4th quarter valued at $4,115,000. Versor Investments LP purchased a new stake in OPENLANE during the fourth quarter valued at about $254,000. JPMorgan Chase & Co. boosted its position in OPENLANE by 119.4% during the fourth quarter. JPMorgan Chase & Co. now owns 306,038 shares of the specialty retailer's stock worth $6,072,000 after purchasing an additional 166,536 shares during the period. Barclays PLC raised its position in shares of OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after purchasing an additional 138,720 shares during the period. Finally, Guidance Capital Inc. purchased a new stake in shares of OPENLANE during the 4th quarter valued at approximately $472,000. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Up 0.5 %

Shares of OPENLANE stock traded up $0.10 during trading on Wednesday, reaching $18.53. The company's stock had a trading volume of 846,088 shares, compared to its average volume of 723,226. The firm's 50-day moving average is $19.80 and its two-hundred day moving average is $19.60. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $22.47. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, equities research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Analyst Ratings Changes

KAR has been the topic of a number of analyst reports. 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 OPENLANE from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.