William Blair Investment Management LLC Buys 35,164 Shares of OPENLANE, Inc. (NYSE:KAR)

William Blair Investment Management LLC lifted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,493,988 shares of the specialty retailer’s stock after acquiring an additional 35,164 shares during the quarter. William Blair Investment Management LLC owned about 1.40% of OPENLANE worth $29,641,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in KAR. State of New Jersey Common Pension Fund D boosted its stake in OPENLANE by 0.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer’s stock valued at $1,896,000 after purchasing an additional 1,018 shares during the period. Victory Capital Management Inc. boosted its stake in OPENLANE by 50.8% during the 3rd quarter. Victory Capital Management Inc. now owns 32,759 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 11,039 shares during the period. Sasco Capital Inc. CT boosted its stake in OPENLANE by 16.0% during the 3rd quarter. Sasco Capital Inc. CT now owns 76,440 shares of the specialty retailer’s stock valued at $1,290,000 after purchasing an additional 10,530 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in OPENLANE by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock valued at $9,206,000 after purchasing an additional 133,767 shares during the period. Finally, Intech Investment Management LLC bought a new stake in OPENLANE during the 3rd quarter valued at approximately $1,440,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Down 3.3 %

OPENLANE stock opened at $20.38 on Wednesday. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $22.47. The business has a 50 day moving average price of $20.72 and a two-hundred day moving average price of $19.06. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Finally, StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

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.