KLP Kapitalforvaltning AS purchased a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,600 shares of the specialty retailer's stock, valued at approximately $448,000.

Several other large investors have also modified their holdings of KAR. BNP Paribas Financial Markets raised its holdings in OPENLANE by 6.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock valued at $403,000 after buying an additional 1,472 shares during the period. Carolina Wealth Advisors LLC raised its stake in shares of OPENLANE by 3.7% in the 4th 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. KBC Group NV lifted its holdings in shares of 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 last quarter. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% during 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 during the period. Finally, Swiss National Bank increased its holdings in OPENLANE by 1.0% in the 4th quarter. Swiss National Bank now owns 213,600 shares of the specialty retailer's stock valued at $4,238,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

A number of research analysts have commented on KAR shares. Stephens upgraded OPENLANE from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $20.00 in a report on Thursday, March 27th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, OPENLANE currently has an average rating of "Moderate Buy" and a consensus target price of $22.20.

Get Our Latest Report on OPENLANE

Shares of NYSE KAR opened at $18.01 on Friday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The stock's 50-day moving average is $20.67 and its two-hundred day moving average is $19.34. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.47.

OPENLANE (NYSE:KAR - Get Free Report) last released its 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. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. Equities research analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

(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.

Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OPENLANE, Inc. (NYSE:KAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider OPENLANE, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OPENLANE wasn't on the list.

While OPENLANE currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here