Invesco Ltd. Purchases 61,762 Shares of OPENLANE, Inc. (NYSE:KAR)

Invesco Ltd. grew its position in shares of OPENLANE, Inc. (NYSE:KAR) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 866,013 shares of the specialty retailer’s stock after purchasing an additional 61,762 shares during the quarter. Invesco Ltd. owned approximately 0.81% of OPENLANE worth $17,182,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barclays PLC raised its position in OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after purchasing an additional 138,720 shares during the period. Geode Capital Management LLC boosted its holdings in OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after acquiring an additional 35,214 shares during the period. JPMorgan Chase & Co. grew its position in OPENLANE by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer’s stock worth $2,355,000 after acquiring an additional 10,962 shares during the last quarter. Carolina Wealth Advisors LLC increased its stake in OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock worth $832,000 after purchasing an additional 1,477 shares during the period. Finally, KBC Group NV lifted its position 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. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KAR has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of OPENLANE from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $20.00 in a research report on Thursday, March 27th. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Finally, Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.75.

OPENLANE Price Performance

NYSE:KAR opened at $18.71 on Monday. The firm’s 50-day moving average price is $20.13 and its 200-day moving average price is $19.51. The company has a market capitalization of $2.00 billion, a PE ratio of 35.29, a P/E/G ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $22.47.

OPENLANE (NYSE:KAR) last posted 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. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. Equities analysts anticipate that OPENLANE, Inc. will post 0.95 EPS 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.