Paradice Investment Management LLC Sells 156,186 Shares of OPENLANE, Inc. (NYSE:KAR)

Paradice Investment Management LLC cut its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,133,883 shares of the specialty retailer's stock after selling 156,186 shares during the period. OPENLANE makes up approximately 8.4% of Paradice Investment Management LLC's holdings, making the stock its largest holding. Paradice Investment Management LLC owned about 2.00% of OPENLANE worth $42,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KAR. KBC Group NV grew its holdings in OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of OPENLANE in the fourth quarter valued at $187,000. Creative Planning acquired a new stake in shares of OPENLANE during the third quarter valued at $193,000. Everence Capital Management Inc. increased its position in OPENLANE by 20.5% during the 3rd quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer's stock worth $245,000 after purchasing an additional 2,470 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in OPENLANE by 5.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer's stock valued at $267,000 after purchasing an additional 793 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Stock Up 0.2 %

Shares of KAR traded up $0.05 during mid-day trading on Friday, hitting $20.96. The company had a trading volume of 954,205 shares, compared to its average volume of 625,488. The business's 50-day simple moving average is $20.39 and its 200-day simple moving average is $18.56. OPENLANE, Inc. has a 1-year low of $14.45 and a 1-year high of $21.93. The stock has a market cap of $2.24 billion, a PE ratio of 39.54, a P/E/G ratio of 1.78 and a beta of 1.52.

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, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.23%. The business had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. On average, sell-side analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

KAR has been the topic of several analyst reports. StockNews.com raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Stephens initiated coverage on shares of OPENLANE in a report on Wednesday, January 22nd. They set an "equal weight" rating and a $20.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Finally, Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

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.