9,073 Shares in OPENLANE, Inc. $KAR Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new stake in OPENLANE, Inc. (NYSE:KAR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,073 shares of the specialty retailer’s stock, valued at approximately $222,000.

A number of other institutional investors have also bought and sold shares of KAR. North Star Investment Management Corp. grew its position in shares of OPENLANE by 77.6% in the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 688 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in OPENLANE by 29.0% during the first quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $63,000 after buying an additional 735 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 590 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of OPENLANE during the 1st quarter worth $75,000. Finally, CWM LLC raised its holdings in shares of OPENLANE by 34.5% during the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock worth $81,000 after acquiring an additional 1,077 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Price Performance

Shares of KAR opened at $24.94 on Friday. The firm has a 50-day simple moving average of $27.72 and a two-hundred day simple moving average of $25.22. The stock has a market cap of $2.65 billion, a PE ratio of 33.70, a P/E/G ratio of 1.81 and a beta of 1.33. OPENLANE, Inc. has a 1-year low of $17.08 and a 1-year high of $30.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $464.40 million. During the same period in the prior year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. As a group, sell-side analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

KAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday. Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Stephens raised their price target on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, September 10th. Weiss Ratings lowered shares of OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Barrington Research upped their price objective on OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, OPENLANE has an average rating of “Moderate Buy” and an average target price of $29.75.

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.