OPENLANE, Inc. $KAR Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in OPENLANE, Inc. (NYSE:KAR) by 40.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,426 shares of the specialty retailer’s stock after selling 30,558 shares during the quarter. XTX Topco Ltd’s holdings in OPENLANE were worth $1,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. North Star Investment Management Corp. increased its stake in 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 during the period. Smartleaf Asset Management LLC boosted its stake in shares of 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 period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of OPENLANE during the first quarter worth about $75,000. CWM LLC grew its holdings in shares of OPENLANE by 13.3% during the second quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock worth $116,000 after buying an additional 558 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in OPENLANE in the 2nd quarter valued at about $156,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KAR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OPENLANE in a report on Tuesday. Barrington Research lifted their price objective on shares of OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.20.

OPENLANE Stock Performance

Shares of NYSE KAR opened at $25.44 on Friday. OPENLANE, Inc. has a one year low of $17.08 and a one year high of $30.93. The firm has a market capitalization of $2.70 billion, a P/E ratio of 34.38, a PEG ratio of 1.81 and a beta of 1.33. The company’s fifty day moving average is $26.49 and its two-hundred day moving average is $25.90.

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