207,400 Shares in OPENLANE, Inc. (NYSE:KAR) Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. bought a new stake in OPENLANE, Inc. (NYSE:KAR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 207,400 shares of the specialty retailer’s stock, valued at approximately $4,115,000.

Several other institutional investors and hedge funds have also bought and sold shares of KAR. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 35,214 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of OPENLANE by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after buying an additional 6,469 shares during the last quarter. William Blair Investment Management LLC grew its position in OPENLANE by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer’s stock valued at $29,641,000 after buying an additional 35,164 shares during the period. Bank of New York Mellon Corp increased its holdings in OPENLANE by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock valued at $17,550,000 after buying an additional 111,798 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in OPENLANE in the fourth quarter worth approximately $15,793,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Stock Performance

Shares of OPENLANE stock opened at $20.62 on Friday. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.47. The company has a market capitalization of $2.20 billion, a P/E ratio of 38.91, a P/E/G ratio of 1.85 and a beta of 1.53. The company has a fifty day moving average of $20.76 and a 200 day moving average of $19.12.

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, topping 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 firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. Analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KAR. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Finally, StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, OPENLANE currently has an average rating of “Moderate Buy” and an average target price of $22.80.

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.