Inspire Investing LLC lifted its position in OPENLANE, Inc. (NYSE:KAR – Free Report) by 14.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,415 shares of the specialty retailer’s stock after purchasing an additional 3,174 shares during the period. Inspire Investing LLC’s holdings in OPENLANE were worth $412,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of KAR. Fifth Third Bancorp raised its position in OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,018 shares in the last quarter. Quarry LP raised its holdings in shares of OPENLANE by 201.4% in the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 1,587 shares in the last quarter. Innealta Capital LLC purchased a new stake in OPENLANE in the second quarter worth about $81,000. MQS Management LLC purchased a new stake in OPENLANE in the second quarter worth about $204,000. Finally, Versor Investments LP purchased a new position in OPENLANE during the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
OPENLANE Stock Performance
KAR stock opened at $16.33 on Friday. OPENLANE, Inc. has a one year low of $12.86 and a one year high of $18.73. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -9.12, a PEG ratio of 1.65 and a beta of 1.44. The firm has a 50-day simple moving average of $16.67 and a two-hundred day simple moving average of $17.04.
Analysts Set New Price Targets
Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, OPENLANE has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.
Read Our Latest Stock Analysis on KAR
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.
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