Los Angeles Capital Management LLC Boosts Stock Holdings in OPENLANE, Inc. $KAR

Los Angeles Capital Management LLC lifted its position in OPENLANE, Inc. (NYSE:KAR) by 21.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,821 shares of the specialty retailer’s stock after purchasing an additional 7,814 shares during the period. Los Angeles Capital Management LLC’s holdings in OPENLANE were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its holdings in OPENLANE by 77.6% in the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 688 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of OPENLANE by 29.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 735 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock worth $69,000 after purchasing an additional 590 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OPENLANE in the 1st quarter worth about $75,000. Finally, CWM LLC boosted its position in OPENLANE by 34.5% during the first quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,077 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KAR shares. Wall Street Zen cut OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barrington Research boosted their price target on shares of OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Stephens upped their price objective on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Weiss Ratings upgraded shares of OPENLANE from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, November 7th. Finally, Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.20.

OPENLANE Stock Performance

Shares of KAR opened at $25.47 on Thursday. The stock has a 50 day moving average price of $27.42 and a 200 day moving average price of $25.46. OPENLANE, Inc. has a one year low of $17.08 and a one year high of $30.93. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 1.81 and a beta of 1.33.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The company had revenue of $498.40 million for the quarter, compared to analysts’ expectations of $464.40 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, analysts predict that OPENLANE, Inc. will post 0.95 earnings per share 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.