Quest Partners LLC Has $760,000 Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

Quest Partners LLC raised its stake in OPENLANE, Inc. (NYSE:KAR) by 257.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,837 shares of the specialty retailer’s stock after purchasing an additional 32,998 shares during the period. Quest Partners LLC’s holdings in OPENLANE were worth $760,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Burgundy Asset Management Ltd. grew its stake in OPENLANE by 1.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 8,775,701 shares of the specialty retailer’s stock valued at $151,820,000 after buying an additional 84,835 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of OPENLANE by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer’s stock worth $104,550,000 after purchasing an additional 399,073 shares during the period. Hawk Ridge Capital Management LP lifted its holdings in OPENLANE by 5.3% during the 4th quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock worth $57,762,000 after purchasing an additional 195,200 shares during the last quarter. Sunriver Management LLC boosted its stake in OPENLANE by 729.7% in the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock valued at $34,627,000 after purchasing an additional 2,056,280 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in OPENLANE by 277.0% in the 1st quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after buying an additional 1,123,953 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Performance

KAR opened at $15.79 on Thursday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $18.73. The firm has a market cap of $1.71 billion, a P/E ratio of -8.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.44. The business’s fifty day moving average is $17.31 and its 200-day moving average is $17.01.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $431.80 million for the quarter, compared to analyst estimates of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, research analysts predict that OPENLANE, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

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.