Connor Clark & Lunn Investment Management Ltd. Buys 141,319 Shares of OPENLANE, Inc. (NYSE:KAR)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 25.9% in the fourth quarter, Holdings Channel reports. The firm owned 686,723 shares of the specialty retailer’s stock after acquiring an additional 141,319 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in OPENLANE were worth $13,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 2,062 shares during the last quarter. KBC Group NV lifted 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 buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of OPENLANE during the fourth quarter worth approximately $187,000. Versor Investments LP acquired a new position in shares of OPENLANE during the fourth quarter worth approximately $254,000. Finally, Paloma Partners Management Co acquired a new position in shares of OPENLANE during the third quarter worth approximately $333,000. Institutional investors own 99.76% of the company’s stock.

OPENLANE Trading Up 2.7 %

Shares of NYSE KAR opened at $20.70 on Friday. The business has a fifty day simple moving average of $20.68 and a 200 day simple moving average of $18.96. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 1.85 and a beta of 1.53. OPENLANE, Inc. has a one year low of $15.44 and a one year high of $22.47.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, research analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KAR shares. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 21st. Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $26.00 in a report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

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.