OPENLANE, Inc. (NYSE:KAR) Shares Bought by Sasco Capital Inc. CT

Sasco Capital Inc. CT lifted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 16.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,440 shares of the specialty retailer’s stock after purchasing an additional 10,530 shares during the period. Sasco Capital Inc. CT owned about 0.07% of OPENLANE worth $1,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KAR. MQS Management LLC grew its stake in OPENLANE by 109.7% during the 3rd quarter. MQS Management LLC now owns 25,800 shares of the specialty retailer’s stock worth $436,000 after buying an additional 13,496 shares during the last quarter. Victory Capital Management Inc. raised its position in OPENLANE by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 32,759 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 11,039 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in OPENLANE by 0.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer’s stock worth $1,896,000 after purchasing an additional 1,018 shares during the period. Verdence Capital Advisors LLC grew its position in OPENLANE by 5.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock worth $267,000 after purchasing an additional 793 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after buying an additional 671,104 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Monday, November 4th.

OPENLANE Trading Up 0.1 %

Shares of KAR opened at $19.87 on Tuesday. The stock’s 50 day moving average is $16.77 and its two-hundred day moving average is $17.05. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $20.45. The firm has a market capitalization of $2.12 billion, a PE ratio of 76.43, a P/E/G ratio of 1.90 and a beta of 1.44.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. On average, sell-side analysts predict that OPENLANE, Inc. will post 0.85 EPS for the current year.

Insider Transactions at OPENLANE

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at approximately $286,918.18. This represents a 53.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

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.