iSAM Funds UK Ltd Takes $291,000 Position in OPENLANE, Inc. (NYSE:KAR)

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

A number of other large investors have also made changes to their positions in KAR. Canada Pension Plan Investment Board acquired a new position in OPENLANE in the fourth quarter worth about $34,000. Quarry LP raised its position in OPENLANE by 414.6% in 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 raised its position in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in OPENLANE in the fourth quarter worth about $68,000. Finally, KBC Group NV grew its stake in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after buying an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Insider Activity at OPENLANE

In related news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 36,511 shares in the company, valued at $793,018.92. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on KAR. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $20.00 to $26.00 in a research note on Friday, February 28th. StockNews.com raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. cut shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Thursday, March 27th.

OPENLANE Price Performance

Shares of NYSE KAR opened at $22.45 on Wednesday. The company's 50 day simple moving average is $19.74 and its 200 day simple moving average is $20.11. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86. The firm has a market capitalization of $2.41 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $445.70 million. During the same period in the prior year, the business posted $0.19 earnings per share. OPENLANE's revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

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.

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