AlphaQuest LLC Purchases 15,743 Shares of OPENLANE, Inc. $KAR

AlphaQuest LLC increased its position in OPENLANE, Inc. (NYSE:KAR) by 524,766.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,746 shares of the specialty retailer’s stock after purchasing an additional 15,743 shares during the period. AlphaQuest LLC’s holdings in OPENLANE were worth $385,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KAR. North Star Investment Management Corp. lifted its holdings 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 worth $39,000 after purchasing an additional 688 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in OPENLANE by 29.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 735 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in OPENLANE by 19.8% during 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 last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OPENLANE during the 1st quarter valued at about $75,000. Finally, CWM LLC boosted its stake in OPENLANE by 34.5% during the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,077 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Up 0.0%

NYSE KAR opened at $26.29 on Friday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 35.53, a PEG ratio of 1.81 and a beta of 1.33. The business has a fifty day simple moving average of $28.01 and a 200 day simple moving average of $24.96. OPENLANE, Inc. has a 12 month low of $15.79 and a 12 month high of $30.93.

OPENLANE (NYSE:KAR) last announced its earnings results 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. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The firm had revenue of $481.70 million during the quarter, compared to analyst estimates of $453.26 million. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KAR has been the subject of a number of analyst reports. Stephens lifted their price target on OPENLANE from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. increased their price target on OPENLANE from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings lowered OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. 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. Finally, Zacks Research lowered OPENLANE from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, OPENLANE presently has a consensus rating of “Hold” and a consensus price target of $29.50.

Insider Buying and Selling at OPENLANE

In other news, EVP James P. Coyle sold 194,575 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the completion of the sale, the executive vice president directly owned 36,851 shares of the company’s stock, valued at $1,029,616.94. This trade represents a 84.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles S. Coleman sold 59,289 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $27.97, for a total value of $1,658,313.33. Following the sale, the executive vice president directly owned 53,474 shares of the company’s stock, valued at approximately $1,495,667.78. This represents a 52.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.51% of the company’s stock.

OPENLANE Company 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.