WINTON GROUP Ltd Acquires New Position in OPENLANE, Inc. $KAR

WINTON GROUP Ltd bought a new position in shares of OPENLANE, Inc. (NYSE:KAR) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 158,106 shares of the specialty retailer’s stock, valued at approximately $3,866,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. North Star Investment Management Corp. grew its stake in shares of OPENLANE by 77.6% in 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 in the last quarter. 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 grew its stake 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 in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in OPENLANE during the 2nd quarter worth about $156,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OPENLANE in a report on Monday, December 1st. 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. Barclays began coverage on shares of OPENLANE in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 price objective on the stock. Finally, Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research report 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Insider Activity at OPENLANE

In other news, EVP Charles S. Coleman sold 88,062 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $26.00, for a total value of $2,289,612.00. Following the completion of the sale, the executive vice president directly owned 53,474 shares of the company’s stock, valued at approximately $1,390,324. The trade was a 62.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.32% of the company’s stock.

OPENLANE Trading Up 1.1%

Shares of NYSE:KAR opened at $26.43 on Tuesday. The firm has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $26.08. OPENLANE, Inc. has a twelve month low of $17.08 and a twelve month high of $30.93. The company has a market capitalization of $2.81 billion, a PE ratio of 30.37, a P/E/G ratio of 1.29 and a beta of 1.25.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. OPENLANE had a net margin of 9.00% and a return on equity of 12.42%. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $464.40 million. During the same period last year, the business earned $0.26 EPS. OPENLANE’s revenue for the quarter was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. As a group, equities research analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.

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.