Zuckerman Investment Group LLC increased its stake in OPENLANE, Inc. (NYSE:KAR – Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,810,262 shares of the specialty retailer’s stock after buying an additional 14,698 shares during the period. OPENLANE accounts for about 3.8% of Zuckerman Investment Group LLC’s holdings, making the stock its 5th largest holding. Zuckerman Investment Group LLC owned 1.66% of OPENLANE worth $24,764,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KAR. Sei Investments Co. increased its holdings in shares of OPENLANE by 0.8% during the first quarter. Sei Investments Co. now owns 801,427 shares of the specialty retailer’s stock valued at $10,963,000 after acquiring an additional 6,207 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in OPENLANE by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,407,597 shares of the specialty retailer’s stock worth $87,653,000 after buying an additional 899,311 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of OPENLANE by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,676,879 shares of the specialty retailer’s stock worth $22,940,000 after buying an additional 16,920 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of OPENLANE by 0.3% during the first quarter. American Century Companies Inc. now owns 3,562,346 shares of the specialty retailer’s stock valued at $48,733,000 after buying an additional 10,032 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in OPENLANE by 9.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,853 shares of the specialty retailer’s stock worth $805,000 after acquiring an additional 5,045 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.
Analysts Set New Price Targets
KAR has been the topic of several recent analyst reports. StockNews.com initiated coverage on OPENLANE in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America raised their price target on shares of OPENLANE from $15.00 to $17.00 in a report on Thursday, July 6th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.00.
OPENLANE Stock Performance
NYSE KAR traded up $0.21 during trading hours on Friday, hitting $15.82. 567,947 shares of the company’s stock traded hands, compared to its average volume of 614,711. OPENLANE, Inc. has a 52 week low of $11.15 and a 52 week high of $16.49. The firm has a market capitalization of $1.73 billion, a P/E ratio of -8.64, a P/E/G ratio of 0.81 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $15.36 and its two-hundred day moving average price is $14.62.
OPENLANE (NYSE:KAR – Get Free Report) last released its earnings results on Thursday, August 3rd. The specialty retailer reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.11. OPENLANE had a positive return on equity of 7.81% and a negative net margin of 9.34%. The company had revenue of $416.90 million for the quarter, compared to the consensus estimate of $419.64 million. During the same period in the previous year, the business earned ($0.04) earnings per share. OPENLANE’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that OPENLANE, Inc. will post 0.63 EPS for the current year.
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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