OPENLANE, Inc. (NYSE:KAR) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in OPENLANE, Inc. (NYSE:KAR) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the specialty retailer’s stock after buying an additional 2,470 shares during the period. Everence Capital Management Inc.’s holdings in OPENLANE were worth $245,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in OPENLANE in the second quarter valued at approximately $3,243,000. Burgundy Asset Management Ltd. grew its holdings in OPENLANE by 1.7% in the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after purchasing an additional 146,266 shares during the period. Raymond James & Associates grew its holdings in OPENLANE by 293.5% in the second quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer’s stock valued at $4,034,000 after purchasing an additional 181,364 shares during the period. SG Americas Securities LLC grew its holdings in OPENLANE by 96.3% in the second quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 7,886 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in OPENLANE by 77.4% in the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer’s stock valued at $930,000 after purchasing an additional 23,462 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

OPENLANE Stock Down 1.7 %

KAR opened at $15.97 on Wednesday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $18.73. The company has a 50 day moving average of $16.62 and a two-hundred day moving average of $17.01. The company has a market cap of $1.73 billion, a P/E ratio of -8.92, a P/E/G ratio of 1.65 and a beta of 1.44.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The business had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $426.11 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. OPENLANE’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that OPENLANE, Inc. will post 0.78 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.