Tudor Investment Corp ET AL Has $739,000 Position in OPENLANE, Inc. (NYSE:KAR)

Tudor Investment Corp ET AL cut its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,238 shares of the specialty retailer's stock after selling 18,358 shares during the period. Tudor Investment Corp ET AL's holdings in OPENLANE were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Kimelman & Baird LLC acquired a new stake in shares of OPENLANE in the 4th quarter valued at approximately $15,793,000. TFJ Management LLC acquired a new stake in OPENLANE in the fourth quarter valued at $14,465,000. Advisory Research Inc. bought a new position in shares of OPENLANE in the 4th quarter valued at about $9,761,000. Norges Bank acquired a new position in shares of OPENLANE during the 4th quarter worth about $7,007,000. Finally, Raymond James Financial Inc. bought a new stake in shares of OPENLANE in the 4th quarter valued at about $5,822,000. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

KAR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $20.00 to $26.00 in a research note on Friday, February 28th. StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a report on Friday. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Friday, February 21st.

OPENLANE Price Performance

KAR traded up $0.08 during trading on Friday, hitting $21.85. The stock had a trading volume of 1,558,119 shares, compared to its average volume of 729,417. The company has a 50 day moving average price of $19.55 and a 200-day moving average price of $19.81. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 41.23, a P/E/G ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The business had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. OPENLANE's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. As a group, sell-side analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current fiscal 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.