Clifford Capital Partners LLC Makes New $10.31 Million Investment in OPENLANE, Inc. (NYSE:KAR)

Clifford Capital Partners LLC acquired a new position in OPENLANE, Inc. (NYSE:KAR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 610,744 shares of the specialty retailer’s stock, valued at approximately $10,309,000. OPENLANE accounts for about 2.1% of Clifford Capital Partners LLC’s portfolio, making the stock its 29th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Burgundy Asset Management Ltd. grew its position in OPENLANE by 1.7% in the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after buying an additional 146,266 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of OPENLANE by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock worth $118,517,000 after acquiring an additional 50,773 shares in the last quarter. River Road Asset Management LLC grew its holdings in shares of OPENLANE by 15.3% in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of OPENLANE by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after purchasing an additional 6,469 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of OPENLANE by 14.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock valued at $23,922,000 after purchasing an additional 181,130 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Buying and Selling at OPENLANE

In other news, CFO Brad S. Lakhia purchased 4,985 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $20.06 per share, with a total value of $99,999.10. Following the purchase, the chief financial officer now directly owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

KAR has been the topic of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

OPENLANE Trading Down 1.2 %

Shares of OPENLANE stock opened at $19.96 on Wednesday. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45. The company has a market cap of $2.13 billion, a P/E ratio of 76.75, a P/E/G ratio of 2.01 and a beta of 1.44. The stock has a 50-day moving average price of $17.21 and a 200 day moving average price of $17.14.

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