River Road Asset Management LLC Sells 202,689 Shares of OPENLANE, Inc. (NYSE:KAR)

River Road Asset Management LLC lessened its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,842,398 shares of the specialty retailer's stock after selling 202,689 shares during the quarter. OPENLANE accounts for about 1.3% of River Road Asset Management LLC's holdings, making the stock its 20th biggest position. River Road Asset Management LLC owned approximately 4.53% of OPENLANE worth $96,073,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clifford Capital Partners LLC purchased a new position in shares of OPENLANE during the 3rd quarter valued at $10,309,000. Geode Capital Management LLC grew its stake in OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock valued at $41,799,000 after purchasing an additional 35,214 shares in the last quarter. Versor Investments LP acquired a new position in OPENLANE in the 4th quarter worth about $254,000. Barclays PLC raised 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 worth $3,022,000 after purchasing an additional 138,720 shares in the last quarter. Finally, Guidance Capital Inc. bought a new stake in shares of OPENLANE in the 4th quarter valued at approximately $472,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

OPENLANE Stock Up 0.9 %

Shares of KAR stock traded up $0.19 during mid-day trading on Wednesday, reaching $20.94. The stock had a trading volume of 265,291 shares, compared to its average volume of 671,163. OPENLANE, Inc. has a one year low of $15.43 and a one year high of $22.47. The firm has a market cap of $2.24 billion, a PE ratio of 39.51, a P/E/G ratio of 1.85 and a beta of 1.53. The firm's 50 day simple moving average is $20.67 and its 200 day simple moving average is $18.94.

Remove Ads

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm had revenue of $455.00 million during the quarter, compared to analysts' expectations of $416.64 million. Sell-side analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KAR. StockNews.com cut OPENLANE from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Finally, Barrington Research reissued an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.80.

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.