Los Angeles Capital Management LLC Increases Holdings in OPENLANE, Inc. $KAR

Los Angeles Capital Management LLC boosted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 21.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,821 shares of the specialty retailer’s stock after buying an additional 7,814 shares during the period. Los Angeles Capital Management LLC’s holdings in OPENLANE were worth $1,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in OPENLANE during the first quarter worth about $1,331,000. Informed Momentum Co LLC purchased a new position in OPENLANE in the first quarter worth approximately $2,856,000. Neo Ivy Capital Management acquired a new position in shares of OPENLANE in the 1st quarter valued at $936,000. Mackenzie Financial Corp purchased a new stake in OPENLANE in the 1st quarter valued at about $1,242,000. Finally, Cerity Partners LLC purchased a new stake in shares of OPENLANE in the 1st quarter valued at approximately $531,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KAR has been the subject of a number of research reports. Barrington Research lifted their price objective on OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Barclays assumed coverage on shares of OPENLANE in a research note on Tuesday. They issued an “overweight” rating and a $32.00 price target for the company. Zacks Research upgraded shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings raised shares of OPENLANE from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, OPENLANE has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

OPENLANE Trading Up 1.7%

KAR stock opened at $25.47 on Thursday. The stock has a market cap of $2.71 billion, a P/E ratio of 34.41, a PEG ratio of 1.81 and a beta of 1.33. OPENLANE, Inc. has a twelve month low of $17.08 and a twelve month high of $30.93. The company’s 50 day moving average is $27.42 and its two-hundred day moving average is $25.46.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The firm had revenue of $498.40 million for the quarter, compared to the consensus estimate of $464.40 million. During the same period last year, the firm posted $0.26 EPS. The company’s revenue 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 research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

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.