Dimensional Fund Advisors LP Buys 50,773 Shares of OPENLANE, Inc. (NYSE:KAR)

Dimensional Fund Advisors LP increased its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,143,903 shares of the specialty retailer’s stock after buying an additional 50,773 shares during the period. Dimensional Fund Advisors LP owned about 6.60% of OPENLANE worth $118,517,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in shares of OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 1,018 shares during the period. TFO Wealth Partners LLC lifted its position in shares of OPENLANE by 16,018.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 1,762 shares during the last quarter. Innealta Capital LLC bought a new position in shares of OPENLANE during the 2nd quarter worth $81,000. Teacher Retirement System of Texas purchased a new stake in OPENLANE in the 4th quarter worth about $164,000. Finally, Versor Investments LP bought a new stake in OPENLANE in the 2nd quarter valued at about $213,000. Institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

OPENLANE Stock Performance

Shares of KAR opened at $16.63 on Monday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $18.73. The stock’s 50-day simple moving average is $17.23 and its 200 day simple moving average is $17.07. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -9.29, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, research analysts forecast that OPENLANE, Inc. will post 0.78 earnings per share for the current fiscal year.

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.