Marathon Asset Management Ltd Sells 156,935 Shares of OPENLANE, Inc. (NYSE:KAR)

Marathon Asset Management Ltd lowered its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,470,640 shares of the specialty retailer's stock after selling 156,935 shares during the period. Marathon Asset Management Ltd owned about 1.38% of OPENLANE worth $28,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KAR. Burgundy Asset Management Ltd. raised its position in OPENLANE by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock worth $184,085,000 after purchasing an additional 153,975 shares during the period. Brown Advisory Inc. purchased a new position in shares of OPENLANE in the fourth quarter worth about $43,941,000. William Blair Investment Management LLC increased its holdings in shares of OPENLANE by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer's stock worth $29,641,000 after buying an additional 35,164 shares during the period. Northern Trust Corp lifted its stake in shares of OPENLANE by 3.5% in the 4th quarter. Northern Trust Corp now owns 1,366,918 shares of the specialty retailer's stock valued at $27,120,000 after acquiring an additional 46,041 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in OPENLANE by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer's stock valued at $17,550,000 after acquiring an additional 111,798 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America raised their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.00.

OPENLANE Price Performance

NYSE:KAR traded up $0.30 during mid-day trading on Tuesday, reaching $24.75. 1,336,047 shares of the company's stock traded hands, compared to its average volume of 734,358. The company has a 50 day moving average price of $21.84 and a 200-day moving average price of $20.78. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.07 and a beta of 1.40. OPENLANE, Inc. has a 12-month low of $15.44 and a 12-month high of $25.02.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The firm had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. As a group, analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current year.

Insiders Place Their Bets

In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $21.72, for a total transaction of $152,040.00. Following the transaction, the executive vice president directly owned 36,511 shares of the company's stock, valued at approximately $793,018.92. The trade was a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is currently owned by company insiders.

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.