Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 686,723 shares of the specialty retailer's stock after purchasing an additional 141,319 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.64% of OPENLANE worth $13,625,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of OPENLANE in the fourth quarter valued at about $5,822,000. Victory Capital Management Inc. raised its holdings in OPENLANE by 92.2% during the 4th quarter. Victory Capital Management Inc. now owns 62,955 shares of the specialty retailer's stock worth $1,249,000 after purchasing an additional 30,196 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of OPENLANE by 435.9% in 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. Versor Investments LP acquired a new position in shares of OPENLANE in the 4th quarter worth approximately $254,000. Finally, Bank of New York Mellon Corp boosted its position 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 acquiring an additional 111,798 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

OPENLANE Price Performance

Shares of KAR stock traded up $0.69 on Wednesday, hitting $21.06. The stock had a trading volume of 627,822 shares, compared to its average volume of 668,188. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $22.47. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The business has a 50 day moving average of $20.72 and a 200 day moving average of $19.06.

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OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on KAR. Barrington Research restated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Stephens upgraded 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 report on Friday, February 28th. Finally, StockNews.com downgraded shares of OPENLANE from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, 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.