Creative Planning Makes New Investment in OPENLANE, Inc. (NYSE:KAR)

Creative Planning purchased a new stake in shares of OPENLANE, Inc. (NYSE:KAR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 11,454 shares of the specialty retailer’s stock, valued at approximately $193,000.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in OPENLANE by 175.5% in the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after buying an additional 1,018 shares during the last quarter. Quarry LP raised its holdings in OPENLANE by 201.4% in the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 1,587 shares during the last quarter. Innealta Capital LLC bought a new position in OPENLANE in the 2nd quarter valued at approximately $81,000. MQS Management LLC purchased a new stake in OPENLANE during the 2nd quarter valued at $204,000. Finally, Versor Investments LP bought a new stake in shares of OPENLANE in the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

NYSE KAR opened at $20.03 on Tuesday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 77.04, a PEG ratio of 1.88 and a beta of 1.44. OPENLANE, Inc. has a 1-year low of $12.86 and a 1-year high of $20.15. The business’s fifty day moving average price is $16.53 and its 200-day moving average price is $16.98.

OPENLANE (NYSE:KAR) last announced 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 return on equity of 8.67% and a net margin of 4.26%. The business had revenue of $448.00 million for the quarter, compared to analysts’ expectations of $431.68 million. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that OPENLANE, Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

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

OPENLANE Company 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.