Marathon Asset Management Ltd Trims Holdings in OPENLANE, Inc. (NYSE:KAR)

Marathon Asset Management Ltd trimmed its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KAR. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE in the 4th quarter valued at approximately $34,000. Quarry LP raised its stake in shares of OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after acquiring an additional 1,758 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 2,062 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of OPENLANE in the 1st quarter valued at approximately $51,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of OPENLANE in the 4th quarter valued at approximately $68,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OPENLANE

In other OPENLANE 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 sale, the executive vice president now directly owns 36,511 shares of the company's stock, valued at approximately $793,018.92. This represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.51% of the company's stock.

OPENLANE Price Performance

KAR opened at $23.89 on Friday. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $24.42. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.00 and a beta of 1.40. The business has a fifty day moving average price of $21.71 and a 200 day moving average price of $20.75.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The firm had revenue of $460.10 million during the quarter, compared to analysts' expectations of $445.70 million. During the same period in the previous year, the firm posted $0.19 EPS. OPENLANE's revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KAR. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th. Finally, Bank of America increased 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, OPENLANE currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.

Want to see what other hedge funds are holding KAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OPENLANE, Inc. (NYSE:KAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.