Maryland State Retirement & Pension System Reduces Stake in OPENLANE, Inc. $KAR

Maryland State Retirement & Pension System cut its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 51.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,282 shares of the specialty retailer’s stock after selling 16,276 shares during the quarter. Maryland State Retirement & Pension System’s holdings in OPENLANE were worth $440,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. North Star Investment Management Corp. increased its stake in shares of OPENLANE by 77.6% in the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 688 shares during the period. USA Financial Formulas purchased a new stake in OPENLANE in the third quarter valued at $83,000. CWM LLC grew its position in OPENLANE by 13.3% during the 2nd quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 558 shares during the period. Longboard Asset Management LP acquired a new stake in OPENLANE during the 3rd quarter worth about $203,000. Finally, Praxis Investment Management Inc. purchased a new position in shares of OPENLANE during the 2nd quarter valued at about $206,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at OPENLANE

In other OPENLANE news, EVP Charles S. Coleman sold 88,062 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $26.00, for a total value of $2,289,612.00. Following the completion of the sale, the executive vice president owned 53,474 shares in the company, valued at approximately $1,390,324. This represents a 62.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

KAR has been the topic of a number of recent research reports. Barclays started coverage on OPENLANE in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 target price on the stock. Wall Street Zen lowered OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of OPENLANE in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of OPENLANE from $28.00 to $29.00 and gave the company 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 issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, OPENLANE has an average rating of “Moderate Buy” and a consensus price target of $30.20.

OPENLANE Stock Performance

Shares of KAR opened at $30.88 on Friday. The stock has a 50 day moving average price of $28.78 and a 200 day moving average price of $27.68. OPENLANE, Inc. has a one year low of $17.08 and a one year high of $30.98. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.53 and a beta of 1.25.

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

OPENLANE Company Profile

OPENLANE (NYSE: KAR) operates a leading digital marketplace and full-service remarketing platform for used vehicles. The company provides both online and physical auction solutions, leveraging proprietary technology to connect sellers—including automotive manufacturers, dealer groups, rental and fleet operators—to a broad network of independent and franchise dealers. Through its platform, users can access real-time bidding, vehicle inspection reports, pricing guides and comprehensive data analytics to optimize transaction outcomes.

The company’s core offerings include a cloud-based auction management system, digital lane software, mobile bidding applications and marketing services designed to maximize vehicle turn times and resale values.