Intech Investment Management LLC Raises Stake in OPENLANE, Inc. $KAR

Intech Investment Management LLC raised its position in OPENLANE, Inc. (NYSE:KAR) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,340 shares of the specialty retailer’s stock after purchasing an additional 6,514 shares during the period. Intech Investment Management LLC’s holdings in OPENLANE were worth $3,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SG Capital Management LLC purchased a new position in OPENLANE in the second quarter valued at $21,623,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of OPENLANE by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,570 shares of the specialty retailer’s stock worth $674,000 after acquiring an additional 2,001 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of OPENLANE by 5.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 24,455 shares of the specialty retailer’s stock valued at $598,000 after acquiring an additional 1,319 shares during the last quarter. Geode Capital Management LLC raised its position in shares of OPENLANE by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,516,983 shares of the specialty retailer’s stock worth $61,548,000 after acquiring an additional 9,216 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of OPENLANE by 18.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 961,657 shares of the specialty retailer’s stock worth $23,513,000 after acquiring an additional 148,251 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Stephens lifted their price target on OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Wall Street Zen cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OPENLANE in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

OPENLANE Price Performance

KAR stock opened at $25.36 on Wednesday. The firm has a market capitalization of $2.69 billion, a PE ratio of 34.26, a P/E/G ratio of 1.81 and a beta of 1.33. The company’s 50 day simple moving average is $27.12 and its 200-day simple moving average is $25.70. OPENLANE, Inc. has a 12 month low of $17.08 and a 12 month high of $30.93.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The firm had revenue of $498.40 million during the quarter, compared to analyst estimates of $464.40 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. As a group, sell-side analysts anticipate 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.