CenterBook Partners LP Has $2.82 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

CenterBook Partners LP lessened its position in OPENLANE, Inc. (NYSE:KAR) by 66.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 141,909 shares of the specialty retailer’s stock after selling 277,621 shares during the period. CenterBook Partners LP’s holdings in OPENLANE were worth $2,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of OPENLANE by 6.6% in the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock worth $403,000 after purchasing an additional 1,472 shares during the period. Barclays PLC grew its holdings in OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after buying an additional 138,720 shares during the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 35,214 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of OPENLANE by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer’s stock worth $2,355,000 after buying an additional 10,962 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its position in shares of OPENLANE by 3.7% in the fourth quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock valued at $832,000 after acquiring an additional 1,477 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Stock Performance

Shares of OPENLANE stock opened at $18.98 on Thursday. The firm has a market cap of $2.03 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38. The firm’s 50-day simple moving average is $20.42 and its 200-day simple moving average is $19.39. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $22.47.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating 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 company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. On average, equities analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KAR has been the topic of a number of research reports. StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded OPENLANE from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and an average price target of $22.20.

OPENLANE Company 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.