Paradice Investment Management LLC Lowers Stake in OPENLANE, Inc. (NYSE:KAR)

Paradice Investment Management LLC reduced its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 36.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,062,485 shares of the specialty retailer's stock after selling 1,776,975 shares during the quarter. OPENLANE accounts for about 5.7% of Paradice Investment Management LLC's holdings, making the stock its 2nd biggest holding. Paradice Investment Management LLC owned approximately 2.84% of OPENLANE worth $45,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in OPENLANE by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer's stock valued at $104,550,000 after purchasing an additional 399,073 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in OPENLANE in the third quarter valued at about $3,388,000. Burgundy Asset Management Ltd. raised its position in OPENLANE by 2.2% in the third quarter. Burgundy Asset Management Ltd. now owns 8,454,728 shares of the specialty retailer's stock valued at $126,145,000 after purchasing an additional 182,241 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in OPENLANE in the third quarter valued at about $944,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in OPENLANE in the fourth quarter valued at about $932,000. 99.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other OPENLANE news, EVP James P. Coyle sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total value of $108,540.00. Following the transaction, the executive vice president now owns 23,885 shares in the company, valued at $432,079.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Peter J. Kelly bought 10,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 323,355 shares of the company's stock, valued at $4,808,288.85. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James P. Coyle sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.09, for a total value of $108,540.00. Following the completion of the transaction, the executive vice president now owns 23,885 shares in the company, valued at approximately $432,079.65. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by insiders.

OPENLANE Trading Down 2.1 %

NYSE KAR traded down $0.38 during trading hours on Friday, hitting $17.60. 489,280 shares of the company's stock were exchanged, compared to its average volume of 842,376. The stock has a 50-day simple moving average of $17.19 and a 200 day simple moving average of $15.53. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $18.41. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -9.83, a PEG ratio of 0.82 and a beta of 1.42. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The business had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. During the same period in the prior year, the business earned $0.12 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts forecast that OPENLANE, Inc. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KAR. Robert W. Baird increased their price target on OPENLANE from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 2nd. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research note on Thursday, May 2nd. Finally, Bank of America raised OPENLANE from an "underperform" rating to a "neutral" rating and increased their price target for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.60.

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.