Fox Run Management L.L.C. Buys Shares of 12,603 OPENLANE, Inc. $KAR

Key Points

• Fox Run Management L.L.C. has acquired a new stake in OPENLANE, Inc., purchasing 12,603 shares worth approximately $243,000 in the first quarter.
• Analyst ratings have favored OPENLANE, with Barrington Research raising the price target from $25.00 to $30.00 and a consensus rating of "Moderate Buy" among analysts.
• OPENLANE's quarterly earnings report revealed $0.33 earnings per share, surpassing analysts' expectations and showing an 11.6% increase in revenue year-over-year.

Fox Run Management L.L.C. purchased a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,603 shares of the specialty retailer's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock valued at $69,000 after purchasing an additional 590 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in shares of OPENLANE by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer's stock valued at $760,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC lifted its stake in shares of OPENLANE by 34.5% in the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer's stock valued at $81,000 after purchasing an additional 1,077 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of OPENLANE by 1.1% in the 4th quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock valued at $2,509,000 after purchasing an additional 1,339 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Performance

KAR traded up $0.12 during trading on Tuesday, hitting $29.15. 378,051 shares of the stock were exchanged, compared to its average volume of 955,211. The firm has a 50 day simple moving average of $25.70 and a 200 day simple moving average of $22.48. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.78 and a beta of 1.40. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $29.37.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. The company had revenue of $481.70 million for the quarter, compared to the consensus estimate of $453.26 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.OPENLANE's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. As a group, equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on KAR. JPMorgan Chase & Co. raised their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America raised their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Barrington Research raised their price objective on OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Insider Buying and Selling at OPENLANE

In other OPENLANE news, EVP James P. Coyle sold 194,575 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the transaction, the executive vice president directly owned 36,851 shares in the company, valued at $1,029,616.94. This trade represents a 84.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles S. Coleman sold 59,289 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total value of $1,658,313.33. Following the transaction, the executive vice president owned 53,474 shares in the company, valued at $1,495,667.78. The trade was a 52.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.32% of the company's stock.

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.