Creative Planning Buys New Position in OPENLANE, Inc. (NYSE:KAR)

Creative Planning bought a new stake in OPENLANE, Inc. (NYSE:KAR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,454 shares of the specialty retailer’s stock, valued at approximately $193,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of OPENLANE by 77.4% during the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer’s stock worth $930,000 after acquiring an additional 23,462 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of OPENLANE by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer’s stock worth $1,635,000 after acquiring an additional 1,264 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of OPENLANE during the first quarter worth approximately $387,000. ProShare Advisors LLC raised its stake in shares of OPENLANE by 6.4% during the first quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer’s stock worth $373,000 after acquiring an additional 1,290 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake 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 worth $710,000 after acquiring an additional 10,200 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Stock Performance

Shares of OPENLANE stock opened at $20.03 on Tuesday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $20.15. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 77.04, a P/E/G ratio of 1.88 and a beta of 1.44. The company’s 50 day moving average price is $16.53 and its 200-day moving average price is $16.98.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. OPENLANE had a net margin of 4.26% and a return on equity of 8.67%. The firm had revenue of $448.00 million for the quarter, compared to analysts’ expectations of $431.68 million. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that OPENLANE, Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About OPENLANE

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.