Guidance Capital Inc. Purchases Shares of 22,844 OPENLANE, Inc. (NYSE:KAR)

Guidance Capital Inc. purchased a new stake in OPENLANE, Inc. (NYSE:KAR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 22,844 shares of the specialty retailer’s stock, valued at approximately $472,000.

A number of other hedge funds also recently bought and sold shares of the stock. River Road Asset Management LLC raised its position in shares of OPENLANE by 15.3% during the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after acquiring an additional 671,104 shares in the last quarter. Geode Capital Management LLC raised its position in shares of OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after acquiring an additional 35,214 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of OPENLANE by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after acquiring an additional 6,469 shares in the last quarter. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE during the 3rd quarter worth about $10,309,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of OPENLANE by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,404 shares of the specialty retailer’s stock worth $9,206,000 after acquiring an additional 133,767 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Buying and Selling at OPENLANE

In related news, CFO Brad S. Lakhia bought 4,985 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the purchase, the chief financial officer now owns 14,303 shares of the company’s stock, valued at $286,918.18. This trade represents a 53.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.

Analysts Set New Price Targets

KAR has been the topic of several research analyst reports. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Stephens initiated coverage on OPENLANE in a research report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research report on Sunday, January 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.60.

OPENLANE Stock Up 0.5 %

KAR opened at $20.54 on Thursday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 79.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $21.05. The business’s 50 day moving average is $20.31 and its two-hundred day moving average is $18.32.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. During the same period last year, the business posted $0.18 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Equities analysts expect that OPENLANE, Inc. will post 0.84 EPS 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.