Mountain Lake Investment Management LLC Sells 25,500 Shares of OPENLANE, Inc. (NYSE:KAR)

Mountain Lake Investment Management LLC trimmed its position in OPENLANE, Inc. (NYSE:KAR) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,500 shares of the specialty retailer’s stock after selling 25,500 shares during the quarter. OPENLANE accounts for 2.2% of Mountain Lake Investment Management LLC’s holdings, making the stock its 13th largest holding. Mountain Lake Investment Management LLC’s holdings in OPENLANE were worth $1,876,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KAR. KBC Group NV grew its stake 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. bought a new stake in shares of OPENLANE during the fourth quarter worth $187,000. Creative Planning bought a new stake in shares of OPENLANE during the third quarter worth $193,000. Everence Capital Management Inc. grew its stake in shares of OPENLANE by 20.5% during the third quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer’s stock worth $245,000 after buying an additional 2,470 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of OPENLANE by 5.3% during the third quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock worth $267,000 after buying an additional 793 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on KAR. JPMorgan Chase & Co. boosted their target price on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Stephens began coverage on shares of OPENLANE in a report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price target on the stock. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Friday. Finally, StockNews.com upgraded shares of OPENLANE from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.60.

OPENLANE Stock Up 0.2 %

KAR stock opened at $20.61 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 1.52. OPENLANE, Inc. has a 12-month low of $12.86 and a 12-month high of $21.51. The company’s fifty day simple moving average is $20.40 and its 200 day simple moving average is $18.46.

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.