MQS Management LLC Raises Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

MQS Management LLC raised its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 109.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,800 shares of the specialty retailer’s stock after purchasing an additional 13,496 shares during the quarter. MQS Management LLC’s holdings in OPENLANE were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in OPENLANE by 77.4% during the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer’s stock valued at $930,000 after buying an additional 23,462 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of OPENLANE by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer’s stock worth $1,635,000 after buying an additional 1,264 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of OPENLANE by 6.4% in the 1st quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer’s stock valued at $373,000 after buying an additional 1,290 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of OPENLANE by 33.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 41,021 shares of the specialty retailer’s stock valued at $710,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in OPENLANE by 1.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 8,775,701 shares of the specialty retailer’s stock valued at $151,820,000 after purchasing an additional 84,835 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

OPENLANE Stock Performance

NYSE:KAR opened at $19.98 on Thursday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 76.85, a PEG ratio of 1.93 and a beta of 1.44. The business has a fifty day moving average of $16.65 and a 200-day moving average of $17.02. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45.

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

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.