OPENLANE, Inc. (NYSE:KAR) Shares Purchased by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC raised its holdings in OPENLANE, Inc. (NYSE:KAR) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,912 shares of the specialty retailer’s stock after purchasing an additional 1,477 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in OPENLANE were worth $832,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KAR. Burgundy Asset Management Ltd. grew its holdings in shares of OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after buying an additional 146,266 shares during the last quarter. Dimensional Fund Advisors LP grew its position in OPENLANE by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock valued at $118,517,000 after buying an additional 50,773 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after acquiring an additional 671,104 shares during the period. Geode Capital Management LLC increased its position in OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in OPENLANE by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after acquiring an additional 6,469 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Brad S. Lakhia acquired 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the acquisition, the chief financial officer now directly owns 14,303 shares of the company’s stock, valued at $286,918.18. This represents a 53.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on KAR shares. JPMorgan Chase & Co. raised their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Monday, November 4th. Finally, StockNews.com upgraded OPENLANE from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, OPENLANE has an average rating of “Moderate Buy” and a consensus target price of $22.00.

OPENLANE Stock Up 1.4 %

Shares of NYSE KAR opened at $20.45 on Thursday. The stock has a market capitalization of $2.18 billion, a PE ratio of 78.66, a P/E/G ratio of 1.75 and a beta of 1.52. The firm has a fifty day moving average of $20.13 and a 200-day moving average of $17.99. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $20.85.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. OPENLANE had a net margin of 4.26% and a return on equity of 8.67%. The firm had revenue of $448.00 million for the quarter, compared to analyst estimates of $431.68 million. During the same quarter last year, the firm posted $0.18 earnings per share. OPENLANE’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that OPENLANE, Inc. will post 0.84 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.