Ensign Peak Advisors Inc Decreases Holdings in OPENLANE, Inc. $KAR

Ensign Peak Advisors Inc trimmed its holdings in OPENLANE, Inc. (NYSE:KAR) by 16.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 45,796 shares of the specialty retailer’s stock after selling 9,200 shares during the quarter. Ensign Peak Advisors Inc’s holdings in OPENLANE were worth $1,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in OPENLANE in the second quarter worth $232,000. Integrated Quantitative Investments LLC purchased a new position in shares of OPENLANE in the second quarter worth about $1,029,000. Intech Investment Management LLC lifted its stake in shares of OPENLANE by 5.1% in the 2nd quarter. Intech Investment Management LLC now owns 133,340 shares of the specialty retailer’s stock valued at $3,260,000 after acquiring an additional 6,514 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of OPENLANE in the 2nd quarter valued at about $21,623,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in OPENLANE by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,570 shares of the specialty retailer’s stock valued at $674,000 after acquiring an additional 2,001 shares during the period. Institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barrington Research lifted their price target on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Barclays assumed coverage on shares of OPENLANE in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Wall Street Zen cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

OPENLANE Price Performance

NYSE:KAR opened at $25.44 on Friday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 34.38, a PEG ratio of 1.81 and a beta of 1.33. OPENLANE, Inc. has a one year low of $17.08 and a one year high of $30.93. The company’s 50-day simple moving average is $26.49 and its 200 day simple moving average is $25.87.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The business had revenue of $498.40 million during the quarter, compared to the consensus estimate of $464.40 million. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, equities research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal 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.