J. Goldman & Co LP Purchases 133,567 Shares of OPENLANE, Inc. (NYSE:KAR)

J. Goldman & Co LP lifted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 174.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 210,293 shares of the specialty retailer’s stock after acquiring an additional 133,567 shares during the quarter. J. Goldman & Co LP owned approximately 0.20% of OPENLANE worth $4,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC increased its holdings in OPENLANE by 344.7% during 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 in the last quarter. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 10,962 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in OPENLANE by 3.7% during 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 in the last quarter. KBC Group NV increased its holdings in OPENLANE by 51.1% during 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 in the last quarter. Finally, Pacer Advisors Inc. bought a new position in OPENLANE during the 4th quarter worth about $187,000. Institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stephens upgraded shares of OPENLANE from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. StockNews.com upgraded shares of OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. downgraded shares of OPENLANE from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st.

OPENLANE Price Performance

Shares of NYSE:KAR opened at $21.85 on Monday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. The company’s 50 day simple moving average is $19.55 and its 200 day simple moving average is $19.84. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.47.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. OPENLANE’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. As a group, 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.