Elo Mutual Pension Insurance Co Has $658,000 Holdings in OPENLANE, Inc. $KAR

Elo Mutual Pension Insurance Co raised its position in shares of OPENLANE, Inc. (NYSE:KAR) by 53.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,906 shares of the specialty retailer’s stock after acquiring an additional 9,409 shares during the period. Elo Mutual Pension Insurance Co’s holdings in OPENLANE were worth $658,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its holdings in OPENLANE by 1.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 31,558 shares of the specialty retailer’s stock worth $772,000 after purchasing an additional 409 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of OPENLANE by 2.0% in the second quarter. Verdence Capital Advisors LLC now owns 23,605 shares of the specialty retailer’s stock valued at $577,000 after acquiring an additional 455 shares during the period. Bank of Montreal Can grew its stake in shares of OPENLANE by 2.7% in the second quarter. Bank of Montreal Can now owns 17,845 shares of the specialty retailer’s stock valued at $436,000 after acquiring an additional 471 shares in the last quarter. CWM LLC grew its stake in shares of OPENLANE by 13.3% in the second quarter. CWM LLC now owns 4,756 shares of the specialty retailer’s stock valued at $116,000 after acquiring an additional 558 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in OPENLANE by 1.4% during the second quarter. Yousif Capital Management LLC now owns 40,160 shares of the specialty retailer’s stock worth $982,000 after acquiring an additional 567 shares during the period. Institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of KAR opened at $25.44 on Friday. OPENLANE, Inc. has a one year low of $17.08 and a one year high of $30.93. The company has a market cap of $2.70 billion, a P/E ratio of 34.38, a P/E/G ratio of 1.81 and a beta of 1.33. The firm has a 50 day simple moving average of $26.49 and a two-hundred day simple moving average of $25.87.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The firm had revenue of $498.40 million for the quarter, compared to the consensus estimate of $464.40 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KAR has been the topic of a number of analyst reports. Barclays began coverage on shares of OPENLANE in a research report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 target price on the stock. Wall Street Zen downgraded OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Stephens raised their price objective on OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OPENLANE in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently 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.