Marathon Asset Management Ltd Decreases Stock Position in OPENLANE, Inc. (NYSE:KAR)

Marathon Asset Management Ltd lowered its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,627,575 shares of the specialty retailer's stock after selling 108,300 shares during the quarter. Marathon Asset Management Ltd owned 1.52% of OPENLANE worth $32,290,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Clifford Capital Partners LLC purchased a new stake in shares of OPENLANE during the third quarter valued at $10,309,000. Geode Capital Management LLC lifted its holdings in 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 buying an additional 35,214 shares in the last quarter. Barclays PLC boosted its position in OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after buying an additional 138,720 shares during the period. Guidance Capital Inc. bought a new position in OPENLANE in the 4th quarter worth about $472,000. Finally, River Road Asset Management LLC increased its position in shares of 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 worth $85,161,000 after acquiring an additional 671,104 shares during the period. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KAR. JPMorgan Chase & Co. boosted their price target on OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $20.00 to $26.00 in a research report on Friday. StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Finally, Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.80.

OPENLANE Price Performance

NYSE KAR traded down $0.15 during midday trading on Monday, hitting $22.15. 1,661,037 shares of the company traded hands, compared to its average volume of 656,356. OPENLANE, Inc. has a 52 week low of $15.43 and a 52 week high of $22.47. The company's 50-day simple moving average is $20.51 and its 200-day simple moving average is $18.74. The company has a market cap of $2.37 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52.

OPENLANE (NYSE:KAR - Get Free Report) last issued 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 analysts' expectations of $416.64 million. On average, research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

About OPENLANE

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.