River Road Asset Management LLC Raises Holdings in OPENLANE, Inc. (NYSE:KAR)

River Road Asset Management LLC boosted its holdings in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,045,087 shares of the specialty retailer's stock after acquiring an additional 671,104 shares during the quarter. OPENLANE accounts for 1.1% of River Road Asset Management LLC's portfolio, making the stock its 25th biggest holding. River Road Asset Management LLC owned about 4.66% of OPENLANE worth $85,161,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KAR. Fifth Third Bancorp boosted its holdings in OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 1,018 shares during the period. Quarry LP lifted its holdings in shares of OPENLANE by 201.4% in the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer's stock worth $39,000 after buying an additional 1,587 shares during the period. Innealta Capital LLC purchased a new stake in shares of OPENLANE in the 2nd quarter worth $81,000. Creative Planning purchased a new stake in shares of OPENLANE in the 3rd quarter worth $193,000. Finally, MQS Management LLC purchased a new stake in shares of OPENLANE in the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a report on Monday.

OPENLANE Trading Up 1.4 %

Shares of KAR traded up $0.22 during trading hours on Tuesday, hitting $16.42. The company had a trading volume of 476,634 shares, compared to its average volume of 694,042. The company has a market capitalization of $1.78 billion, a PE ratio of 108.00, a price-to-earnings-growth ratio of 1.67 and a beta of 1.44. OPENLANE, Inc. has a one year low of $12.86 and a one year high of $18.73. The company's fifty day moving average price is $16.40 and its two-hundred day moving average price is $16.93.

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

OPENLANE Company 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.