Brown Advisory Inc. Has $65.11 Million Position in OPENLANE, Inc. $KAR

Brown Advisory Inc. boosted its position in shares of OPENLANE, Inc. (NYSE:KAR) by 4.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,662,789 shares of the specialty retailer’s stock after purchasing an additional 124,312 shares during the quarter. Brown Advisory Inc.’s holdings in OPENLANE were worth $65,105,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System raised its position in shares of OPENLANE by 1.3% during the second quarter. Maryland State Retirement & Pension System now owns 31,558 shares of the specialty retailer’s stock worth $772,000 after acquiring an additional 409 shares during the last quarter. Verdence Capital Advisors LLC increased its position in OPENLANE by 2.0% in the second quarter. Verdence Capital Advisors LLC now owns 23,605 shares of the specialty retailer’s stock worth $577,000 after purchasing an additional 455 shares during the period. Bank of Montreal Can raised its holdings in OPENLANE by 2.7% during the 2nd quarter. Bank of Montreal Can now owns 17,845 shares of the specialty retailer’s stock worth $436,000 after purchasing an additional 471 shares during the last quarter. CWM LLC lifted its position in OPENLANE by 13.3% during the 2nd quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 558 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of OPENLANE by 1.4% in the 2nd quarter. Yousif Capital Management LLC now owns 40,160 shares of the specialty retailer’s stock valued at $982,000 after purchasing an additional 567 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Up 1.6%

KAR opened at $26.19 on Friday. The stock has a market cap of $2.78 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.27 and a beta of 1.25. OPENLANE, Inc. has a 12 month low of $17.08 and a 12 month high of $30.93. The company has a fifty day simple moving average of $26.25 and a 200 day simple moving average of $26.00.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. OPENLANE had a return on equity of 12.42% and a net margin of 9.00%.The firm had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $464.40 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, equities research analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Charles S. Coleman sold 88,062 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $26.00, for a total transaction of $2,289,612.00. Following the completion of the sale, the executive vice president directly owned 53,474 shares of the company’s stock, valued at approximately $1,390,324. This represents a 62.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen cut shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Stephens increased their price target on OPENLANE from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, September 10th. Barclays began coverage on OPENLANE in a research note on Tuesday, November 11th. They set an “overweight” rating and a $32.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OPENLANE in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.20.

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.