OPENLANE, Inc. $KAR Holdings Lifted by Yousif Capital Management LLC

Yousif Capital Management LLC boosted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,160 shares of the specialty retailer’s stock after buying an additional 567 shares during the quarter. Yousif Capital Management LLC’s holdings in OPENLANE were worth $982,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KAR. Maryland State Retirement & Pension System boosted its position in shares of OPENLANE by 1.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 31,558 shares of the specialty retailer’s stock valued at $772,000 after purchasing an additional 409 shares during the period. CWM LLC boosted its position in shares of OPENLANE by 13.3% in the 2nd quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 558 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after purchasing an additional 590 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of OPENLANE by 2.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 23,200 shares of the specialty retailer’s stock valued at $567,000 after purchasing an additional 600 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of OPENLANE by 77.6% in the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 688 shares during the period. Institutional investors own 99.76% of the company’s stock.

Insider Activity at OPENLANE

In other news, EVP Charles S. Coleman sold 59,289 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total transaction of $1,658,313.33. Following the transaction, the executive vice president owned 53,474 shares in the company, valued at approximately $1,495,667.78. This trade represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James P. Coyle sold 194,575 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total value of $5,436,425.50. Following the transaction, the executive vice president owned 36,851 shares in the company, valued at approximately $1,029,616.94. This trade represents a 84.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

OPENLANE Stock Up 1.9%

KAR opened at $26.99 on Wednesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The stock’s 50 day moving average price is $28.24 and its two-hundred day moving average price is $24.56. OPENLANE, Inc. has a 12-month low of $15.72 and a 12-month high of $30.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.09. The firm had revenue of $481.70 million during the quarter, compared to the consensus estimate of $453.26 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. As a group, analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KAR. Barrington Research increased their price target on OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Weiss Ratings upgraded OPENLANE from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Stephens raised their price objective on OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Zacks Research lowered OPENLANE from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their price objective on OPENLANE from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

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.