Sunriver Management LLC Decreases Holdings in OPENLANE, Inc. (NYSE:KAR)

Sunriver Management LLC trimmed its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,665,054 shares of the specialty retailer's stock after selling 676,710 shares during the period. OPENLANE comprises about 6.3% of Sunriver Management LLC's investment portfolio, making the stock its 6th biggest position. Sunriver Management LLC owned about 2.49% of OPENLANE worth $52,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in OPENLANE by 6.6% during the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock worth $403,000 after buying an additional 1,472 shares in the last quarter. Barclays PLC grew its holdings 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. Geode Capital Management LLC grew its holdings in shares of OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock worth $41,799,000 after purchasing an additional 35,214 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of OPENLANE by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer's stock valued at $2,355,000 after purchasing an additional 10,962 shares during the period. Finally, Carolina Wealth Advisors LLC raised its stake in shares of OPENLANE by 3.7% in the fourth quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock valued at $832,000 after purchasing an additional 1,477 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

OPENLANE Trading Up 0.6 %

KAR stock traded up $0.12 during trading on Friday, hitting $18.71. 670,155 shares of the stock traded hands, compared to its average volume of 733,862. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 1.85 and a beta of 1.38. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47. The company has a 50 day simple moving average of $20.18 and a 200 day simple moving average of $19.45.

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

Analysts Set New Price Targets

KAR has been the topic of several analyst reports. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. cut shares of OPENLANE from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Thursday, March 27th. StockNews.com cut shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $20.00 to $26.00 in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, OPENLANE currently has an average rating of "Moderate Buy" and an average price target of $22.75.

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.