iSAM Funds UK Ltd Invests $291,000 in OPENLANE, Inc. (NYSE:KAR)

iSAM Funds UK Ltd purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,650 shares of the specialty retailer’s stock, valued at approximately $291,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the fourth quarter worth $34,000. Quarry LP boosted its position in shares of OPENLANE by 414.6% during the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of OPENLANE during the fourth quarter worth $68,000. Finally, KBC Group NV raised its holdings 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 acquiring an additional 1,798 shares during the period. 99.76% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the transaction, the executive vice president now owns 36,511 shares of the company’s stock, valued at $793,018.92. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of OPENLANE from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of OPENLANE from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $20.00 in a 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 report on Friday, February 28th.

OPENLANE Trading Down 0.0%

Shares of KAR stock opened at $22.45 on Wednesday. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.86. The firm’s fifty day moving average price is $19.74 and its two-hundred day moving average price is $20.11. The firm has a market capitalization of $2.41 billion, a P/E ratio of 42.36, a PEG ratio of 1.85 and a beta of 1.32.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The firm had revenue of $460.10 million for the quarter, compared to analyst estimates of $445.70 million. During the same period in the previous year, the business earned $0.19 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

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.