Openlane (KAR)

• Market cap: $2.2B
• 1 day: 2.29%
• 5 days: 3.16%
• 1 month: 1.13%
• 3 months: 26.60%
• 6 months: 14.03%
• Year to date: 1.88%
• 1 year: 41.79%
• 5 years: -6.20%
• 10 years: -39.32%
• Sector: Consumer Discretionary
• Industry: Auto Dealers & Gasoline Stations

About: Openlane Inc offers a digital marketplace for used vehicles. The services comprise financing, repossessions, repairs, transportation, warranty, and inventory services. It operates used-vehicle auctions and offers complete online services for all parties involved. The company has two operating segments which include Marketplace and Finance, of which it generates the majority of the revenue from the Marketplace segment.

Employees: 4,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

14% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 28

1% more capital invested

Capital invested by funds: $1.78B [Q2] → $1.8B (+$19.1M) [Q3]

0% more funds holding

Funds holding: 224 [Q2] → 225 (+1) [Q3]

0.64% less ownership

Funds ownership: 99.28% [Q2] → 98.64% (-0.64%) [Q3]

4% less repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 72

25% less funds holding in top 10

Funds holding in top 10: 4 [Q2] → 3 (-1) [Q3]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $23 12% upside
• Avg. target: $24 17% upside
• High target: $25 22% upside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

JP Morgan Ryan Brinkman 34% 1-year accuracy 14 / 41 met price target	12% upside $23	Overweight Maintained	20 Nov 2024
Barrington Research Gary Prestopino 65% 1-year accuracy 86 / 133 met price target	22% upside $25	Outperform Maintained	7 Nov 2024