Marathon Asset Management Ltd Sells 201,094 Shares of OPENLANE, Inc. (NYSE:KAR)

Marathon Asset Management Ltd trimmed its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 10.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,735,875 shares of the specialty retailer’s stock after selling 201,094 shares during the period. Marathon Asset Management Ltd owned 1.60% of OPENLANE worth $29,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in shares of OPENLANE in the second quarter worth about $3,243,000. Burgundy Asset Management Ltd. grew its holdings in shares of OPENLANE by 1.7% in the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after purchasing an additional 146,266 shares in the last quarter. Raymond James & Associates increased its position in OPENLANE by 293.5% in the second quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer’s stock worth $4,034,000 after purchasing an additional 181,364 shares during the last quarter. SG Americas Securities LLC raised its stake in OPENLANE by 96.3% during the second quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 7,886 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of OPENLANE by 77.4% in the 1st quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer’s stock worth $930,000 after buying an additional 23,462 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Price Performance

Shares of NYSE:KAR opened at $16.33 on Friday. The firm has a market capitalization of $1.77 billion, a PE ratio of -9.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The business has a 50 day simple moving average of $16.66 and a two-hundred day simple moving average of $17.03. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $18.73.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. During the same period last year, the company earned $0.25 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that OPENLANE, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.