Jackson Creek Investment Advisors LLC Purchases New Position in OPENLANE, Inc. (NYSE:KAR)

Jackson Creek Investment Advisors LLC acquired a new stake in OPENLANE, Inc. (NYSE:KAR) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 62,930 shares of the specialty retailer’s stock, valued at approximately $932,000. Jackson Creek Investment Advisors LLC owned approximately 0.06% of OPENLANE at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its holdings in shares of OPENLANE by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 65,179 shares of the specialty retailer’s stock worth $965,000 after buying an additional 1,891 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in OPENLANE by 11.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,716 shares of the specialty retailer’s stock worth $292,000 after purchasing an additional 2,000 shares in the last quarter. Mackenzie Financial Corp bought a new position in OPENLANE in the 4th quarter valued at $846,000. Louisiana State Employees Retirement System purchased a new position in shares of OPENLANE during the 4th quarter valued at $800,000. Finally, International Assets Investment Management LLC grew its position in shares of OPENLANE by 1,381.0% during the 4th quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock valued at $258,000 after purchasing an additional 16,227 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

OPENLANE stock opened at $17.18 on Wednesday. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $17.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a fifty day simple moving average of $16.55 and a two-hundred day simple moving average of $15.17.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $391.30 million during the quarter, compared to analyst estimates of $392.56 million. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. On average, research analysts predict that OPENLANE, Inc. will post 0.83 earnings per share for the current fiscal year.

Insider Transactions at OPENLANE

In related news, insider James E. Money II sold 14,822 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now owns 44,604 shares in the company, valued at approximately $706,081.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Peter J. Kelly bought 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $14.87 per share, with a total value of $148,700.00. Following the transaction, the chief executive officer now owns 323,355 shares in the company, valued at approximately $4,808,288.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the sale, the insider now directly owns 44,604 shares in the company, valued at approximately $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KAR. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, OPENLANE presently has a consensus rating of “Hold” and an average price target of $19.50.

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.