Burgundy Asset Management Ltd. Has $184.09 Million Position in OPENLANE, Inc. (NYSE:KAR)

Burgundy Asset Management Ltd. raised its position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,278,497 shares of the specialty retailer's stock after purchasing an additional 153,975 shares during the quarter. OPENLANE accounts for 1.9% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 14th biggest holding. Burgundy Asset Management Ltd. owned about 8.68% of OPENLANE worth $184,085,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock worth $263,000 after buying an additional 1,161 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of OPENLANE by 1.1% during the 4th quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock worth $2,509,000 after purchasing an additional 1,339 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the 4th quarter valued at $34,000. Quarry LP lifted 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 purchasing an additional 1,758 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in OPENLANE by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,092 shares of the specialty retailer's stock worth $260,000 after purchasing an additional 1,765 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Insiders Place Their Bets

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

OPENLANE Trading Up 0.3%

KAR traded up $0.07 on Wednesday, hitting $22.82. 127,588 shares of the stock traded hands, compared to its average volume of 789,902. The business has a fifty day moving average price of $19.89 and a two-hundred day moving average price of $20.27. The firm has a market capitalization of $2.45 billion, a PE ratio of 43.02, a P/E/G ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.86.

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, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. OPENLANE's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, equities research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. cut OPENLANE from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $20.00 in a research report on Thursday, March 27th. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $20.00 to $26.00 in a research note on Friday, February 28th.

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.