OPENLANE, Inc. $KAR Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 40.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,426 shares of the specialty retailer’s stock after selling 30,558 shares during the quarter. XTX Topco Ltd’s holdings in OPENLANE were worth $1,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KAR. North Star Investment Management Corp. increased its holdings in OPENLANE by 77.6% during 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 during the period. Smartleaf Asset Management LLC grew its position in shares of OPENLANE by 29.0% during the first quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $63,000 after buying an additional 735 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of OPENLANE during the first quarter worth about $75,000. CWM LLC increased its stake in shares of OPENLANE by 13.3% during the second quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock worth $116,000 after buying an additional 558 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in OPENLANE in the second quarter valued at approximately $156,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KAR has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barrington Research raised their price objective on shares of OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Stephens lifted their price objective on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Barclays began coverage on OPENLANE in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.20.

OPENLANE Trading Up 1.0%

Shares of NYSE:KAR opened at $25.44 on Friday. The firm has a 50 day simple moving average of $26.49 and a 200-day simple moving average of $25.90. OPENLANE, Inc. has a twelve month low of $17.08 and a twelve month high of $30.93. The company has a market capitalization of $2.70 billion, a PE ratio of 34.38, a P/E/G ratio of 1.81 and a beta of 1.33.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $464.40 million. During the same period last year, the business earned $0.26 EPS. OPENLANE’s revenue for the quarter 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, equities research analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

About OPENLANE

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.