International Assets Investment Management LLC boosted its stake in OPENLANE, Inc. (NYSE:KAR – Free Report) by 1,588.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,834 shares of the specialty retailer’s stock after buying an additional 18,659 shares during the quarter. International Assets Investment Management LLC’s holdings in OPENLANE were worth $335,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after buying an additional 1,018 shares in the last quarter. Quarry LP raised its holdings in shares of OPENLANE by 201.4% during the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 1,587 shares in the last quarter. Innealta Capital LLC bought a new position in shares of OPENLANE during the 2nd quarter valued at $81,000. Creative Planning bought a new position in shares of OPENLANE during the 3rd quarter valued at $193,000. Finally, MQS Management LLC bought a new position in shares of OPENLANE during the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
OPENLANE Trading Up 6.3 %
OPENLANE stock opened at $17.47 on Thursday. The company has a market capitalization of $1.90 billion, a P/E ratio of 116.43, a P/E/G ratio of 1.70 and a beta of 1.44. The firm’s fifty day simple moving average is $16.38 and its 200-day simple moving average is $16.93. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $18.73.
Wall Street Analysts Forecast Growth
Separately, Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Monday.
Get Our Latest Research Report on KAR
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.
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