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

Mountain Lake Investment Management LLC decreased its stake in OPENLANE, Inc. (NYSE:KAR) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,500 shares of the specialty retailer’s stock after selling 25,500 shares during the period. OPENLANE accounts for approximately 2.2% of Mountain Lake Investment Management LLC’s holdings, making the stock its 13th largest position. Mountain Lake Investment Management LLC owned approximately 0.09% of OPENLANE worth $1,876,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of KAR. Creative Planning acquired a new stake in OPENLANE in the 3rd quarter valued at about $193,000. Raymond James & Associates lifted its stake in OPENLANE by 20.1% in the 3rd quarter. Raymond James & Associates now owns 292,094 shares of the specialty retailer’s stock valued at $4,931,000 after purchasing an additional 48,930 shares during the last quarter. Everence Capital Management Inc. lifted its stake in OPENLANE by 20.5% in the 3rd quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer’s stock valued at $245,000 after purchasing an additional 2,470 shares during the last quarter. International Assets Investment Management LLC lifted its stake in OPENLANE by 1,588.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,834 shares of the specialty retailer’s stock valued at $335,000 after purchasing an additional 18,659 shares during the last quarter. 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 worth $85,161,000 after acquiring an additional 671,104 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Trading Up 0.2 %

NYSE KAR opened at $20.61 on Friday. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $21.51. The company has a 50 day moving average of $20.40 and a 200-day moving average of $18.46. The company 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stephens assumed coverage on shares of OPENLANE in a research report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of OPENLANE from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.