PDT Partners LLC Has $656,000 Position in OPENLANE, Inc. (NYSE:KAR)

PDT Partners LLC boosted its holdings in shares of OPENLANE, Inc. (NYSE:KAR) by 128.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,852 shares of the specialty retailer’s stock after buying an additional 21,866 shares during the period. PDT Partners LLC’s holdings in OPENLANE were worth $656,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KAR. Carolina Wealth Advisors LLC lifted its holdings in shares of OPENLANE by 10.5% in the second quarter. Carolina Wealth Advisors LLC now owns 44,264 shares of the specialty retailer’s stock valued at $734,000 after purchasing an additional 4,202 shares in the last quarter. SG Americas Securities LLC boosted its holdings in OPENLANE by 96.3% during the 2nd quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 7,886 shares during the last quarter. Raymond James & Associates boosted its holdings in OPENLANE by 293.5% during the 2nd quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer’s stock worth $4,034,000 after acquiring an additional 181,364 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of OPENLANE by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the specialty retailer’s stock valued at $904,000 after purchasing an additional 1,000 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KAR has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, OPENLANE presently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

OPENLANE Price Performance

Shares of KAR opened at $20.08 on Tuesday. The firm has a market cap of $2.15 billion, a PE ratio of 77.23, a PEG ratio of 2.01 and a beta of 1.44. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45. The stock’s fifty day moving average price is $17.55 and its two-hundred day moving average price is $17.22.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $448.00 million for the quarter, compared to analysts’ expectations of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Sell-side analysts anticipate that OPENLANE, Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brad S. Lakhia purchased 4,985 shares of the stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at $286,918.18. This represents a 53.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.32% of the stock is owned by company insiders.

OPENLANE 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.