SG Americas Securities LLC acquires 7,886 shares of OPENLANE, Inc. (NYSE:KAR)

SG Americas Securities LLC raised its stake in OPENLANE, Inc. (NYSE:KAR – Free Report) by 96.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,072 shares of the specialty retailer’s stock after purchasing an additional 7,886 shares during the period. SG Americas Securities LLC’s holdings in OPENLANE were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Burgundy Asset Management Ltd. raised 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 position in shares of OPENLANE by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer’s stock valued at $104,550,000 after purchasing an additional 399,073 shares during the last quarter. Hawk Ridge Capital Management LP raised its stake in shares of OPENLANE by 5.3% during the fourth quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock worth $57,762,000 after acquiring an additional 195,200 shares during the period. Sunriver Management LLC grew its holdings in OPENLANE by 729.7% during the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock worth $34,627,000 after buying an additional 2,056 shares. 280 shares in the last quarter. Finally, Invenomic Capital Management LP boosted 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 during the period. 99.76% of shares are owned by institutional investors.

Changes in Analyst Ratings

A number of brokerages have recently issued reports on KAR. Robert W. Baird boosted their price target on shares of OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. OPENLANE currently has a consensus rating of “Moderate Buy” and an average target price of $19.60, according to data from MarketBeat.

Get the latest stock report on OPENLANE

OPENLANE stock down 1.0%

Shares of NYSE KAR opened at $17.17 on Friday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -9.59, a PEG ratio of 1.20 and a beta of 1.44. The company has a current ratio of 1.15, a quick ratio of 1.15, and a debt-to-equity ratio of 0.15. OPENLANE, Inc. it has a 12-month low of $12.86 and a 12-month high of $18.73. The stock has a 50 day moving average price of $17.12 and a two hundred day moving average price of $16.74.

OPENLANE (NYSE:KAR – Get Your Free Report ) last posted 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 company had revenue of $431.80 million for the quarter, compared to analyst estimates of $426.11 million. OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. OPENLANE’s revenue for the quarter was up 3.6% compared to the same quarter last year. In the same quarter last year, the company earned $0.25 per share. As a group, analysts estimate that OPENLANE, Inc. will post 0.8 earnings per share for the current fiscal year.

OPENLANE profile

(Free report)

OPENLANE, Inc, together with its subsidiaries, operates as a digital used vehicle marketplace connecting sellers and buyers in North America, Europe, the Philippines and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment provides digital marketplace services for buying and selling used vehicles.

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