TradeLink Capital LLC Acquires New Position in OPENLANE, Inc. $KAR

TradeLink Capital LLC bought a new position in shares of OPENLANE, Inc. (NYSE:KAR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,968 shares of the specialty retailer’s stock, valued at approximately $390,000. OPENLANE makes up 1.2% of TradeLink Capital LLC’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its position in shares of OPENLANE by 77.6% during the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 688 shares during the period. Smartleaf Asset Management LLC boosted its holdings in OPENLANE by 29.0% in the first quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 735 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OPENLANE during the 1st quarter worth $75,000. CWM LLC increased its holdings in OPENLANE by 13.3% during the 2nd quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 558 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in OPENLANE in the 2nd quarter valued at about $156,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Up 1.0%

Shares of OPENLANE stock opened at $25.44 on Monday. OPENLANE, Inc. has a 52 week low of $17.08 and a 52 week high of $30.93. The firm’s 50 day moving average is $26.49 and its two-hundred day moving average is $25.92. The firm has a market capitalization of $2.70 billion, a P/E ratio of 34.38, a P/E/G ratio of 1.81 and a beta of 1.33.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays initiated coverage on OPENLANE in a research report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 price objective for the company. Stephens lifted their price target on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. increased their price objective 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. Zacks Research upgraded shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OPENLANE in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and an average target price of $30.20.

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.