Guidance Capital Inc. Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Guidance Capital Inc. acquired a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,844 shares of the specialty retailer's stock, valued at approximately $472,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. River Road Asset Management LLC lifted its stake in OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock worth $85,161,000 after acquiring an additional 671,104 shares during the period. Clifford Capital Partners LLC purchased a new position in OPENLANE during the third quarter valued at approximately $10,309,000. Barclays PLC raised its stake in OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock worth $3,022,000 after buying an additional 138,720 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in OPENLANE by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer's stock valued at $9,206,000 after acquiring an additional 133,767 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of OPENLANE in the 3rd quarter valued at $1,440,000. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KAR shares. StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a research report on Sunday, January 19th. JPMorgan Chase & Co. boosted their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research note on Monday, November 4th. Finally, Stephens assumed coverage on OPENLANE in a research report on Wednesday, January 22nd. They set an "equal weight" rating and a $20.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

Insider Buying and Selling

In other OPENLANE news, CFO Brad S. Lakhia purchased 4,985 shares of OPENLANE stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $20.06 per share, with a total value of $99,999.10. Following the transaction, the chief financial officer now owns 14,303 shares of the company's stock, valued at $286,918.18. This represents a 53.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.32% of the company's stock.

OPENLANE Trading Down 0.7 %

Shares of NYSE KAR traded down $0.14 during midday trading on Friday, reaching $20.70. The company had a trading volume of 456,466 shares, compared to its average volume of 470,382. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $21.05. The business's 50-day simple moving average is $20.33 and its 200 day simple moving average is $18.35. The stock has a market cap of $2.21 billion, a P/E ratio of 79.62, a P/E/G ratio of 1.84 and a beta of 1.52.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $448.00 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted $0.18 EPS. Analysts predict that OPENLANE, Inc. will post 0.84 earnings per share for the current 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.