iSAM Funds UK Ltd Makes New $291,000 Investment in OPENLANE, Inc. (NYSE:KAR)

iSAM Funds UK Ltd bought a new stake in OPENLANE, Inc. (NYSE:KAR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,650 shares of the specialty retailer's stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KAR. Canada Pension Plan Investment Board acquired a new position in OPENLANE during the 4th quarter worth approximately $34,000. Quarry LP grew its stake in shares of OPENLANE by 414.6% during the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in OPENLANE in the fourth quarter valued at $68,000. Finally, KBC Group NV boosted its position in shares of OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after acquiring an additional 1,798 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

OPENLANE Trading Down 1.3%

KAR stock traded down $0.30 on Monday, hitting $22.11. The company's stock had a trading volume of 602,523 shares, compared to its average volume of 727,776. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. The firm has a 50 day moving average of $19.83 and a two-hundred day moving average of $20.23. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.07. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The business had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on KAR. Stephens raised OPENLANE from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Wall Street Zen upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered OPENLANE from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st.

Insider Buying and Selling

In other news, EVP James P. Coyle sold 7,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the sale, the executive vice president now owns 36,511 shares in the company, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company's stock.

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.