OPENLANE, Inc. (NYSE:KAR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in OPENLANE, Inc. (NYSE:KAR) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 18,566 shares of the specialty retailer’s stock after selling 1,079 shares during the period. AQR Capital Management LLC’s holdings in OPENLANE were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in KAR. Fifth Third Bancorp increased its position in shares of OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 1,018 shares during the period. Innealta Capital LLC acquired a new position in shares of OPENLANE in the 2nd quarter valued at $81,000. MQS Management LLC acquired a new position in shares of OPENLANE in the 2nd quarter valued at $204,000. Versor Investments LP purchased a new stake in OPENLANE in the second quarter valued at $213,000. Finally, Los Angeles Capital Management LLC purchased a new stake in OPENLANE in the first quarter valued at $242,000. 99.76% of the stock is owned by institutional investors and hedge funds.

OPENLANE Stock Performance

NYSE:KAR opened at $16.17 on Thursday. 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 $1.75 billion, a price-to-earnings ratio of -9.03, a PEG ratio of 1.65 and a beta of 1.44. The firm’s fifty day moving average is $16.68 and its two-hundred day moving average is $17.04.

OPENLANE (NYSE:KAR) last posted 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 for the quarter, compared to analysts’ expectations of $426.11 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that OPENLANE, Inc. will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.