12,603 Shares in OPENLANE, Inc. $KAR Purchased by Fox Run Management L.L.C.

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. acquired a new stake in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,603 shares of the specialty retailer's stock, valued at approximately $243,000.

Several other institutional investors also recently made changes to their positions in KAR. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE during the 4th quarter valued at $34,000. Quarry LP grew its stake in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after buying an additional 1,758 shares during the period. FSC Wealth Advisors LLC purchased a new stake in OPENLANE during the 1st quarter worth $51,000. Johnson Financial Group Inc. purchased a new stake in OPENLANE during the 4th quarter worth $68,000. Finally, Nisa Investment Advisors LLC boosted its position in OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock worth $69,000 after purchasing an additional 590 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on KAR. JPMorgan Chase & Co. upped their price target on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Bank of America upped their price target on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Barrington Research upped their price target on shares of OPENLANE from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.50.

Insiders Place Their Bets

In other news, EVP Charles S. Coleman sold 59,289 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $27.97, for a total value of $1,658,313.33. Following the sale, the executive vice president owned 53,474 shares in the company, valued at approximately $1,495,667.78. This represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James P. Coyle sold 194,575 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the completion of the sale, the executive vice president owned 36,851 shares in the company, valued at approximately $1,029,616.94. This trade represents a 84.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

OPENLANE Trading Up 3.4%

KAR stock traded up $0.9650 during trading on Friday, reaching $29.1450. The stock had a trading volume of 760,560 shares, compared to its average volume of 952,393. OPENLANE, Inc. has a 1-year low of $15.44 and a 1-year high of $29.19. The company has a market capitalization of $3.10 billion, a P/E ratio of 39.39, a PEG ratio of 2.79 and a beta of 1.40. The firm has a fifty day moving average price of $25.43 and a 200 day moving average price of $22.36.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The firm had revenue of $481.70 million for the quarter, compared to analyst estimates of $453.26 million. During the same quarter in the previous year, the business posted $0.19 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

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.