Intech Investment Management LLC Increases Stock Holdings in OPENLANE, Inc. $KAR

Intech Investment Management LLC boosted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,340 shares of the specialty retailer’s stock after purchasing an additional 6,514 shares during the period. Intech Investment Management LLC owned approximately 0.12% of OPENLANE worth $3,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of KAR. North Star Investment Management Corp. increased its holdings in shares of OPENLANE by 77.6% during the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock worth $39,000 after buying an additional 688 shares during the last quarter. Smartleaf Asset Management LLC grew its position in OPENLANE by 29.0% in the first quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $63,000 after acquiring an additional 735 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in OPENLANE during the first quarter worth $75,000. CWM LLC raised its position in OPENLANE by 34.5% in the first quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,077 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of OPENLANE in the 2nd quarter valued at $156,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Stock Performance

Shares of KAR stock opened at $25.36 on Wednesday. OPENLANE, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $30.93. The company has a 50 day moving average price of $27.12 and a 200 day moving average price of $25.70. The stock has a market capitalization of $2.69 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barrington Research raised their price objective on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Barclays assumed coverage on shares of OPENLANE in a research report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 price objective for the company. Finally, Zacks Research raised OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One investment 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 presently has an average rating of “Moderate Buy” and an average target price of $30.20.

OPENLANE 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.