Integrated Quantitative Investments LLC Takes Position in OPENLANE, Inc. (NYSE:KAR)

Integrated Quantitative Investments LLC purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70,400 shares of the specialty retailer’s stock, valued at approximately $1,397,000. OPENLANE comprises approximately 0.7% of Integrated Quantitative Investments LLC’s investment portfolio, making the stock its 20th largest holding. Integrated Quantitative Investments LLC owned about 0.07% of OPENLANE as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of OPENLANE by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after acquiring an additional 35,214 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in OPENLANE by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after purchasing an additional 6,469 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of OPENLANE by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer’s stock worth $29,641,000 after purchasing an additional 35,164 shares during the period. Bank of New York Mellon Corp lifted its position in shares of OPENLANE by 14.5% in the 4th quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock worth $17,550,000 after buying an additional 111,798 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of OPENLANE in the 4th quarter valued at about $15,793,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Trading Down 6.9 %

NYSE KAR opened at $18.82 on Friday. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The company has a market cap of $2.01 billion, a PE ratio of 35.50, a PEG ratio of 1.85 and a beta of 1.53. The stock’s 50-day moving average price is $20.72 and its two-hundred day moving average price is $19.33.

OPENLANE (NYSE:KAR) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. Research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KAR shares. JPMorgan Chase & Co. cut shares of 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 report on Thursday, March 27th. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Finally, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

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.