Mountain Lake Investment Management LLC Decreases Stake in OPENLANE, Inc. (NYSE:KAR)

Mountain Lake Investment Management LLC cut its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,500 shares of the specialty retailer's stock after selling 25,500 shares during the quarter. OPENLANE accounts for approximately 2.2% of Mountain Lake Investment Management LLC's holdings, making the stock its 13th biggest holding. Mountain Lake Investment Management LLC owned approximately 0.09% of OPENLANE worth $1,876,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. River Road Asset Management LLC boosted its holdings in shares of OPENLANE by 15.3% during the 3rd 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. Clifford Capital Partners LLC bought a new position in shares of OPENLANE during the 3rd quarter valued at approximately $10,309,000. Barclays PLC grew its stake in shares of OPENLANE by 344.7% during the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after acquiring an additional 138,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 during the period. Finally, Intech Investment Management LLC bought a new position in OPENLANE in the 3rd quarter worth approximately $1,440,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KAR shares. Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. Stephens assumed coverage on OPENLANE in a research note on Wednesday, January 22nd. They issued an "equal weight" rating and a $20.00 target price on the stock. Finally, StockNews.com upgraded OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.60.

OPENLANE Price Performance

Shares of KAR stock traded down $0.01 on Wednesday, hitting $20.11. The stock had a trading volume of 537,926 shares, compared to its average volume of 581,592. The firm has a market capitalization of $2.15 billion, a P/E ratio of 77.23, a P/E/G ratio of 1.82 and a beta of 1.52. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $21.51. The company's 50 day moving average price is $20.40 and its 200-day moving average price is $18.48.

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.