Dimensional Fund Advisors LP Acquires 50,773 Shares of OPENLANE, Inc. (NYSE:KAR)

Dimensional Fund Advisors LP increased its stake in OPENLANE, Inc. (NYSE:KAR) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,143,903 shares of the specialty retailer’s stock after purchasing an additional 50,773 shares during the period. Dimensional Fund Advisors LP owned approximately 0.07% of OPENLANE worth $118,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC raised its position in shares of OPENLANE by 257.0% during the 2nd quarter. Quest Partners LLC now owns 45,837 shares of the specialty retailer’s stock valued at $760,000 after buying an additional 32,998 shares in the last quarter. Versor Investments LP bought a new position in OPENLANE in the second quarter valued at $213,000. Peregrine Capital Management LLC raised its position in OPENLANE by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 350,684 shares of the specialty retailer’s stock valued at $5,818,000 after purchasing an additional 4,558 shares in the last quarter. Innealta Capital LLC bought a new stake in OPENLANE during the second quarter worth about $81,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of OPENLANE by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 876,398 shares of the specialty retailer’s stock worth $14,539,000 after purchasing an additional 18,706 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.60.

OPENLANE Price Performance

KAR opened at $16.63 on Monday. The stock’s 50 day simple moving average is $17.23 and its 200 day simple moving average is $17.07. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 1.65 and a beta of 1.44. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $18.73.

OPENLANE (NYSE:KAR) last issued 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). OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that OPENLANE, Inc. will post 0.78 EPS 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.