Horizon Kinetics Asset Management LLC Decreases Stock Position in OPENLANE, Inc. (NYSE:KAR)

Horizon Kinetics Asset Management LLC lessened its stake in OPENLANE, Inc. (NYSE:KAR) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,857 shares of the specialty retailer’s stock after selling 782 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.10% of OPENLANE worth $2,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 2,062 shares during the period. KBC Group NV boosted 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 acquiring an additional 1,798 shares during the period. Pacer Advisors Inc. purchased a new position in OPENLANE in the 4th quarter worth approximately $187,000. Versor Investments LP purchased a new position in OPENLANE in the 4th quarter worth approximately $254,000. Finally, Natixis Advisors LLC boosted its holdings in OPENLANE by 19.9% in the 4th quarter. Natixis Advisors LLC now owns 15,137 shares of the specialty retailer’s stock worth $300,000 after acquiring an additional 2,512 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

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

OPENLANE Price Performance

Shares of KAR opened at $20.70 on Monday. The business’s fifty day moving average price is $20.70 and its 200 day moving average price is $19.01. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.47. The stock has a market capitalization of $2.21 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. As a group, research analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

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.