OPENLANE, Inc. $KAR Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in OPENLANE, Inc. (NYSE:KAR) by 30.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,049,475 shares of the specialty retailer’s stock after acquiring an additional 243,463 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.99% of OPENLANE worth $25,660,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. North Star Investment Management Corp. raised its holdings in 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 acquiring an additional 688 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of OPENLANE by 29.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $63,000 after purchasing an additional 735 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OPENLANE in the first quarter worth $75,000. CWM LLC increased its holdings in 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 in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of OPENLANE during the 2nd quarter valued at about $156,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on KAR. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Barclays started coverage on OPENLANE in a research report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of OPENLANE in a report on Monday, December 1st. Wall Street Zen cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, OPENLANE presently has an average rating of “Moderate Buy” and an average target price of $30.20.

OPENLANE Trading Up 1.6%

Shares of OPENLANE stock opened at $26.19 on Friday. The company has a market cap of $2.78 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.29 and a beta of 1.25. The stock has a 50-day moving average price of $26.25 and a 200 day moving average price of $26.02. OPENLANE, Inc. has a 1 year low of $17.08 and a 1 year high of $30.93.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. OPENLANE had a net margin of 9.00% and a return on equity of 12.42%. The company had revenue of $498.40 million during the quarter, compared to analyst estimates of $464.40 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue for the quarter 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, equities analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles S. Coleman sold 88,062 shares of OPENLANE stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $26.00, for a total transaction of $2,289,612.00. Following the completion of the sale, the executive vice president directly owned 53,474 shares in the company, valued at $1,390,324. The trade was a 62.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by insiders.

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.