Raymond James & Associates Buys 48,930 Shares of OPENLANE, Inc. (NYSE:KAR)

Raymond James & Associates grew its holdings in OPENLANE, Inc. (NYSE:KAR - Free Report) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 292,094 shares of the specialty retailer's stock after acquiring an additional 48,930 shares during the quarter. Raymond James & Associates owned 0.27% of OPENLANE worth $4,931,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KAR. BNP Paribas Financial Markets boosted its position in shares of OPENLANE by 77.4% during the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer's stock worth $930,000 after buying an additional 23,462 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of OPENLANE by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer's stock worth $1,635,000 after buying an additional 1,264 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of OPENLANE during the first quarter worth about $387,000. ProShare Advisors LLC boosted its position in shares of OPENLANE by 6.4% during the first quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer's stock worth $373,000 after buying an additional 1,290 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in OPENLANE by 33.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 41,021 shares of the specialty retailer's stock valued at $710,000 after purchasing an additional 10,200 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Performance

Shares of NYSE KAR traded up $0.10 during trading hours on Friday, reaching $15.90. 397,214 shares of the stock were exchanged, compared to its average volume of 496,314. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 106.00, a P/E/G ratio of 1.66 and a beta of 1.44. OPENLANE, Inc. has a 52 week low of $12.86 and a 52 week high of $18.73. The stock's fifty day simple moving average is $16.43 and its 200 day simple moving average is $16.94.

OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). The firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. OPENLANE's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Research analysts predict that OPENLANE, Inc. will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, September 20th.

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.