Marathon Asset Management Ltd Sells 201,094 Shares of OPENLANE, Inc. (NYSE:KAR)

Marathon Asset Management Ltd trimmed its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,735,875 shares of the specialty retailer's stock after selling 201,094 shares during the period. Marathon Asset Management Ltd owned about 1.60% of OPENLANE worth $29,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KAR. Los Angeles Capital Management LLC acquired a new position in OPENLANE in the first quarter valued at about $242,000. BNP Paribas Financial Markets boosted its position in shares of OPENLANE by 77.4% during the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer's stock worth $930,000 after buying an additional 23,462 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of OPENLANE by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer's stock worth $1,635,000 after buying an additional 1,264 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of OPENLANE during the first quarter worth about $387,000. Finally, ProShare Advisors LLC boosted its position in shares of OPENLANE by 6.4% during the first quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer's stock worth $373,000 after buying an additional 1,290 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

OPENLANE Stock Performance

NYSE KAR traded up $0.18 during trading hours on Friday, hitting $16.51. 375,649 shares of the company traded hands, compared to its average volume of 706,625. The business's 50-day moving average is $16.66 and its 200-day moving average is $17.03. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $18.73. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -9.12, a P/E/G ratio of 1.65 and a beta of 1.44.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The company had revenue of $431.80 million for the quarter, compared to analyst estimates of $426.11 million. During the same period last year, the company posted $0.25 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Analysts predict that OPENLANE, Inc. will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, OPENLANE currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.

OPENLANE 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.