Connor Clark & Lunn Investment Management Ltd. raised its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 32.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 545,404 shares of the specialty retailer's stock after acquiring an additional 133,767 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.50% of OPENLANE worth $9,206,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Burgundy Asset Management Ltd. boosted its holdings in OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer's stock worth $148,015,000 after buying an additional 146,266 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in OPENLANE by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer's stock worth $118,517,000 after buying an additional 50,773 shares during the period. River Road Asset Management LLC lifted its stake in OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock valued at $85,161,000 after buying an additional 671,104 shares in the last quarter. Invenomic Capital Management LP increased its position in shares of OPENLANE by 277.0% in the first quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer's stock worth $26,463,000 after acquiring an additional 1,123,953 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in OPENLANE by 14.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer's stock worth $23,922,000 after purchasing an additional 181,130 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at OPENLANE
In other news, CFO Brad S. Lakhia bought 4,985 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the acquisition, the chief financial officer now directly owns 14,303 shares of the company's stock, valued at $286,918.18. The trade was a 53.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.32% of the stock is owned by corporate insiders.
OPENLANE Price Performance
Shares of KAR stock traded up $0.10 on Friday, hitting $19.94. The company's stock had a trading volume of 491,911 shares, compared to its average volume of 700,682. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 76.77, a P/E/G ratio of 1.87 and a beta of 1.44. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $20.45. The firm's fifty day moving average price is $17.06 and its 200-day moving average price is $17.12.
OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Analysts predict that OPENLANE, Inc. will post 0.85 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on KAR. JPMorgan Chase & Co. lifted their price target on OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, OPENLANE currently has an average rating of "Moderate Buy" and a consensus target price of $20.20.
View Our Latest Report on KAR
About OPENLANE
(
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.
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