Mutual of America Capital Management LLC Has $276,000 Position in OPENLANE, Inc. (NYSE:KAR)

Mutual of America Capital Management LLC cut its holdings in OPENLANE, Inc. (NYSE:KAR) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,337 shares of the specialty retailer’s stock after selling 1,464 shares during the quarter. Mutual of America Capital Management LLC’s holdings in OPENLANE were worth $276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its position in shares of OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after purchasing an additional 146,266 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of OPENLANE by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock worth $118,517,000 after buying an additional 50,773 shares during the period. River Road Asset Management LLC lifted its holdings in OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after buying an additional 671,104 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in OPENLANE by 14.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock worth $23,922,000 after acquiring an additional 181,130 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of OPENLANE by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 876,398 shares of the specialty retailer’s stock valued at $14,539,000 after acquiring an additional 18,706 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Stock Performance

Shares of NYSE KAR opened at $20.11 on Friday. The stock has a market capitalization of $2.15 billion, a PE ratio of 77.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.44. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $20.45. The stock has a 50 day moving average price of $17.34 and a 200 day moving average price of $17.17.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KAR shares. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Insider Activity

In related news, CFO Brad S. Lakhia purchased 4,985 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. This represents a 53.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.32% of the company’s stock.

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.