Connor Clark & Lunn Investment Management Ltd. Has $13.63 Million Holdings in OPENLANE, Inc. (NYSE:KAR)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 25.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 686,723 shares of the specialty retailer’s stock after buying an additional 141,319 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.64% of OPENLANE worth $13,625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in OPENLANE during the 4th quarter valued at about $5,822,000. Victory Capital Management Inc. grew its stake in OPENLANE by 92.2% during the 4th quarter. Victory Capital Management Inc. now owns 62,955 shares of the specialty retailer’s stock valued at $1,249,000 after acquiring an additional 30,196 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 2,062 shares in the last quarter. Versor Investments LP purchased a new position in OPENLANE during the 4th quarter valued at about $254,000. Finally, Bank of New York Mellon Corp grew its stake in OPENLANE by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 884,553 shares of the specialty retailer’s stock valued at $17,550,000 after acquiring an additional 111,798 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted 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. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Finally, Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

OPENLANE Stock Performance

Shares of NYSE KAR opened at $20.70 on Friday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 1.85 and a beta of 1.53. The business has a 50 day simple moving average of $20.68 and a 200 day simple moving average of $18.96. OPENLANE, Inc. has a 52 week low of $15.44 and a 52 week high of $22.47.

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

About OPENLANE

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.