Paradice Investment Management LLC Sells 156,186 Shares of OPENLANE, Inc. (NYSE:KAR)

Paradice Investment Management LLC cut its stake in OPENLANE, Inc. (NYSE:KAR) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,133,883 shares of the specialty retailer’s stock after selling 156,186 shares during the period. OPENLANE makes up 8.4% of Paradice Investment Management LLC’s investment portfolio, making the stock its largest position. Paradice Investment Management LLC owned about 2.00% of OPENLANE worth $42,336,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE in the third quarter worth approximately $10,309,000. Geode Capital Management LLC lifted its position in OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after buying an additional 35,214 shares in the last quarter. Barclays PLC lifted its position in OPENLANE by 344.7% during the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after buying an additional 138,720 shares in the last quarter. Guidance Capital Inc. acquired a new position in OPENLANE during the fourth quarter valued at approximately $472,000. Finally, River Road Asset Management LLC lifted its position in OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after buying an additional 671,104 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

OPENLANE Trading Up 0.2 %

NYSE KAR opened at $20.61 on Tuesday. The company’s fifty day simple moving average is $20.40 and its 200-day simple moving average is $18.48. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $21.51. The stock has a market cap of $2.20 billion, a P/E ratio of 79.25, a PEG ratio of 1.84 and a beta of 1.52.

Wall Street Analyst Weigh In

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

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.