OPENLANE, Inc. (NYSE:KAR) is Paradice Investment Management LLC’s 2nd Largest Position

Paradice Investment Management LLC trimmed its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,305,854 shares of the specialty retailer’s stock after selling 10,946 shares during the period. OPENLANE accounts for 6.8% of Paradice Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Paradice Investment Management LLC owned approximately 2.13% of OPENLANE worth $38,254,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its position in OPENLANE by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the specialty retailer’s stock valued at $904,000 after purchasing an additional 1,000 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 1,018 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of OPENLANE by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer’s stock worth $1,635,000 after acquiring an additional 1,264 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of OPENLANE by 6.4% in the 1st quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer’s stock worth $373,000 after acquiring an additional 1,290 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 1,762 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Stock Up 0.3 %

KAR traded up $0.06 on Monday, reaching $17.33. 757,900 shares of the company traded hands, compared to its average volume of 723,482. OPENLANE, Inc. has a one year low of $12.86 and a one year high of $18.73. The firm has a fifty day simple moving average of $17.27 and a two-hundred day simple moving average of $16.90. The company has a market cap of $1.88 billion, a P/E ratio of -9.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44.

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

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, OPENLANE presently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

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.