Massar Capital Management LP Acquires New Stake in OPENLANE, Inc. (NYSE:KAR)

Massar Capital Management LP bought a new position in OPENLANE, Inc. (NYSE:KAR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,035 shares of the specialty retailer’s stock, valued at approximately $298,000.

A number of other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in OPENLANE during the fourth quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its stake in shares of OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 2,062 shares in the last quarter. KBC Group NV raised its holdings in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after purchasing an additional 1,798 shares during the period. Pacer Advisors Inc. purchased a new position in OPENLANE during the fourth quarter valued at $187,000. Finally, Versor Investments LP bought a new stake in OPENLANE during the fourth quarter valued at about $254,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Price Performance

OPENLANE stock opened at $18.29 on Tuesday. The firm’s 50 day moving average price is $20.08 and its 200-day moving average price is $19.53. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47. The stock has a market cap of $1.96 billion, a P/E ratio of 34.51, a PEG ratio of 1.85 and a beta of 1.38.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating 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 business had revenue of $455.00 million during the quarter, compared to the consensus estimate of $416.64 million. As a group, equities analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

KAR has been the topic of a number of analyst reports. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. 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. Finally, JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.75.

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.