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

Burgundy Asset Management Ltd. raised its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,278,497 shares of the specialty retailer's stock after acquiring an additional 153,975 shares during the quarter. OPENLANE comprises approximately 1.9% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 14th biggest holding. Burgundy Asset Management Ltd. owned approximately 8.68% of OPENLANE worth $184,085,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new stake in OPENLANE in the fourth quarter worth about $34,000. Quarry LP boosted 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. Smartleaf Asset Management LLC boosted 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 purchasing an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of OPENLANE during the 4th quarter worth approximately $68,000. Finally, KBC Group NV raised its stake in shares of 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. 99.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

KAR has been the topic of a number of recent research reports. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and dropped their price objective for the company 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 note on Friday, February 21st.

Insider Activity

In related news, EVP James P. Coyle sold 7,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by company insiders.

OPENLANE Price Performance

KAR traded down $0.30 during mid-day trading on Monday, hitting $22.11. The stock had a trading volume of 602,523 shares, compared to its average volume of 727,776. The stock's fifty day simple moving average is $19.83 and its 200-day simple moving average is $20.23. The firm has a market capitalization 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. 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 issued its quarterly earnings data 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 9.20% and a net margin of 6.27%. The business had revenue of $460.10 million for the quarter, compared to the consensus estimate of $445.70 million. During the same quarter last year, the business posted $0.19 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share 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.