William Blair Investment Management LLC Has $23.70 Million Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

William Blair Investment Management LLC trimmed its holdings in OPENLANE, Inc. (NYSE:KAR) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,428,454 shares of the specialty retailer’s stock after selling 2,622 shares during the quarter. William Blair Investment Management LLC owned about 1.32% of OPENLANE worth $23,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in OPENLANE by 12.9% during the 4th quarter. Victory Capital Management Inc. now owns 21,595 shares of the specialty retailer’s stock worth $320,000 after buying an additional 2,461 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of OPENLANE in the fourth quarter worth approximately $164,000. Dimensional Fund Advisors LP raised its stake in shares of OPENLANE by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer’s stock worth $104,550,000 after purchasing an additional 399,073 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of OPENLANE in the fourth quarter worth approximately $362,000. Finally, Norges Bank purchased a new stake in shares of OPENLANE in the fourth quarter worth approximately $10,426,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.60.

OPENLANE Stock Up 2.3 %

KAR stock opened at $16.55 on Monday. The firm has a market cap of $1.79 billion, a PE ratio of -9.25, a P/E/G ratio of 1.65 and a beta of 1.44. The business has a 50 day moving average of $17.27 and a 200-day moving average of $17.02. OPENLANE, Inc. has a 12-month low of $12.86 and a 12-month high of $18.73.

OPENLANE (NYSE:KAR) last released its earnings results 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). The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. On average, research analysts expect that OPENLANE, Inc. will post 0.78 earnings per share for the current year.

OPENLANE 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.