Barclays PLC Has $3.02 Million Stock Holdings in OPENLANE, Inc. (NYSE:KAR)

Barclays PLC raised its stake in OPENLANE, Inc. (NYSE:KAR - Free Report) by 344.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 178,964 shares of the specialty retailer's stock after purchasing an additional 138,720 shares during the quarter. Barclays PLC owned 0.17% of OPENLANE worth $3,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Paloma Partners Management Co acquired a new position in OPENLANE in the 3rd quarter valued at $333,000. PDT Partners LLC increased its stake in shares of OPENLANE by 128.7% during the third quarter. PDT Partners LLC now owns 38,852 shares of the specialty retailer's stock worth $656,000 after acquiring an additional 21,866 shares during the period. Clifford Capital Partners LLC purchased a new position in OPENLANE during the third quarter worth about $10,309,000. BNP Paribas Financial Markets raised its holdings in OPENLANE by 6.6% during the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock worth $403,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in OPENLANE by 33.3% in the third quarter. Quantbot Technologies LP now owns 33,734 shares of the specialty retailer's stock valued at $569,000 after purchasing an additional 8,419 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analysts Forecast Growth

KAR has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 20th. StockNews.com cut OPENLANE from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Transactions at OPENLANE

In related news, CFO Brad S. Lakhia bought 4,985 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.32% of the company's stock.

OPENLANE Stock Performance

Shares of KAR traded up $0.17 during trading hours on Tuesday, hitting $20.50. The stock had a trading volume of 118,784 shares, compared to its average volume of 712,265. OPENLANE, Inc. has a 12-month low of $12.86 and a 12-month high of $20.85. The firm has a market cap of $2.19 billion, a P/E ratio of 78.85, a P/E/G ratio of 2.05 and a beta of 1.53. The company's fifty day simple moving average is $18.88 and its 200 day simple moving average is $17.58.

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