TFJ Management LLC Takes $14.47 Million Position in OPENLANE, Inc. (NYSE:KAR)

TFJ Management LLC purchased a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 729,070 shares of the specialty retailer's stock, valued at approximately $14,465,000. OPENLANE accounts for about 13.0% of TFJ Management LLC's holdings, making the stock its 3rd largest holding. TFJ Management LLC owned approximately 0.68% of OPENLANE at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KAR. Kimelman & Baird LLC bought a new position in shares of OPENLANE during the fourth quarter valued at approximately $15,793,000. Advisory Research Inc. purchased a new stake in shares of OPENLANE during the 4th quarter worth $9,761,000. Norges Bank purchased a new stake in shares of OPENLANE during the 4th quarter worth $7,007,000. Raymond James Financial Inc. bought a new stake in OPENLANE during the fourth quarter valued at about $5,822,000. Finally, Hillsdale Investment Management Inc. purchased a new position in OPENLANE in the fourth quarter valued at about $4,115,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KAR shares. Barrington Research restated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, OPENLANE has a consensus rating of "Moderate Buy" and an average price target of $22.75.

OPENLANE Stock Performance

KAR stock traded down $0.09 during trading on Friday, reaching $18.38. The company had a trading volume of 289,819 shares, compared to its average volume of 724,857. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.47. The firm has a 50-day simple moving average of $19.96 and a 200-day simple moving average of $19.53.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share 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 analyst estimates of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. Sell-side analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.