OPENLANE, Inc. (NYSE:KAR) Stake Lifted by International Assets Investment Management LLC

International Assets Investment Management LLC raised its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 1,588.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,834 shares of the specialty retailer’s stock after buying an additional 18,659 shares during the period. International Assets Investment Management LLC’s holdings in OPENLANE were worth $335,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in KAR. Fifth Third Bancorp boosted its holdings in OPENLANE by 175.5% during the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after buying an additional 1,018 shares in the last quarter. Quarry LP boosted its holdings in OPENLANE by 201.4% during the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,587 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of OPENLANE in the 2nd quarter valued at approximately $81,000. Creative Planning purchased a new stake in shares of OPENLANE in the 3rd quarter valued at approximately $193,000. Finally, MQS Management LLC purchased a new stake in shares of OPENLANE in the 2nd quarter valued at approximately $204,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $17.47 on Thursday. The company has a market cap of $1.90 billion, a PE ratio of 116.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $18.73. The firm has a 50 day simple moving average of $16.38 and a 200 day simple moving average of $16.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $426.11 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that OPENLANE, Inc. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research report on Monday.

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.