Barclays PLC Purchases 138,720 Shares of OPENLANE, Inc. (NYSE:KAR)

Barclays PLC raised its holdings in OPENLANE, Inc. (NYSE:KAR) by 344.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,964 shares of the specialty retailer’s stock after purchasing an additional 138,720 shares during the period. Barclays PLC owned approximately 0.17% of OPENLANE worth $3,022,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KAR. Fifth Third Bancorp boosted its position in shares of OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 1,018 shares in the last quarter. Quarry LP increased its position in OPENLANE by 201.4% in the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 1,587 shares during the period. Innealta Capital LLC bought a new position in OPENLANE during the 2nd quarter worth $81,000. Creative Planning bought a new position in shares of OPENLANE during the third quarter worth about $193,000. Finally, MQS Management LLC acquired a new position in shares of OPENLANE in the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective 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 lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Transactions at OPENLANE

In other news, CFO Brad S. Lakhia purchased 4,985 shares of the stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at $286,918.18. This represents a 53.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

OPENLANE Stock Performance

KAR opened at $20.33 on Tuesday. The firm has a 50-day moving average of $18.79 and a 200 day moving average of $17.56. OPENLANE, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $20.85. The firm has a market cap of $2.17 billion, a P/E ratio of 78.20, a PEG ratio of 2.05 and a beta of 1.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Equities research analysts predict that OPENLANE, Inc. will post 0.84 earnings per share for the current fiscal year.

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.