23 hours Ago By Defense World Staff
Renaissance Technologies LLC trimmed its position in shares of OPENLANE, Inc. ( NYSE:KAR – Free Report ) by 59.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission.
The institutional investor owned 60,800 shares of the specialty retailer’s stock after selling 90,900 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of OPENLANE worth $1,206,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of OPENLANE by 435.9% during the fourth quarter.
Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 2,062 shares in the last quarter. KBC Group NV boosted its holdings in OPENLANE by 51.1% in the fourth quarter.
KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,798 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in OPENLANE during the 4th quarter valued at approximately $187,000.
Versor Investments LP purchased a new stake in OPENLANE during the 4th quarter worth approximately $254,000. Finally, Pictet Asset Management Holding SA raised its position in shares of OPENLANE by 15.6% in the 4th quarter.
Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer’s stock valued at $260,000 after purchasing an additional 1,765 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Analyst Upgrades and Downgrades A number of analysts recently issued reports on KAR shares. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th.
Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th.
JPMorgan Chase & Co. downgraded OPENLANE from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $20.
00 in a research note on Thursday, March 27th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st.
Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, OPENLANE has a consensus rating of “Moderate Buy” and a consensus price target of $22.
75. OPENLANE Stock Up 1.1 % Shares of NYSE:KAR opened at $18.
45 on Wednesday. The firm has a 50-day simple moving average of $19.84 and a 200 day simple moving average of $19.
61. OPENLANE, Inc. has a fifty-two week low of $15.
44 and a fifty-two week high of $22.47. The company has a market cap of $1.
97 billion, a PE ratio of 34.80, a P/E/G ratio of 1.85 and a beta of 1.
38. OPENLANE ( NYSE:KAR – Get Free Report ) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.
21 earnings per share 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 for the quarter, compared to analysts’ expectations of $416.64 million.
As a group, research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.
About OPENLANE ( Free Report ) 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.
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