EntryPoint Capital LLC Invests $271,000 in OPENLANE, Inc. $KAR

EntryPoint Capital LLC purchased a new position in OPENLANE, Inc. (NYSE:KAR) during the first quarter, Holdings Channel.com reports. The fund purchased 14,057 shares of the specialty retailer’s stock, valued at approximately $271,000.

Several other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in OPENLANE by 19.8% in the first quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after purchasing an additional 590 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in OPENLANE by 2.6% in the first quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer’s stock valued at $760,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC lifted its stake in OPENLANE by 34.5% in the first quarter. CWM LLC now owns 4,198 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,077 shares during the last quarter. Bank of Montreal Can lifted its stake in OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in OPENLANE by 1.1% in the fourth quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer’s stock valued at $2,509,000 after purchasing an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on KAR shares. Wall Street Zen upgraded OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Barrington Research upped their price objective on OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Bank of America upped their price objective on OPENLANE from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. upped their price objective on OPENLANE from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Insider Buying and Selling at OPENLANE

In other news, EVP Charles S. Coleman sold 59,289 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $27.97, for a total value of $1,658,313.33. Following the transaction, the executive vice president owned 53,474 shares of the company’s stock, valued at approximately $1,495,667.78. This represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James P. Coyle sold 194,575 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total transaction of $5,436,425.50. Following the completion of the transaction, the executive vice president directly owned 36,851 shares in the company, valued at approximately $1,029,616.94. The trade was a 84.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

OPENLANE Price Performance

Shares of KAR stock opened at $29.1450 on Friday. The company’s fifty day simple moving average is $25.43 and its two-hundred day simple moving average is $22.35. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $29.19. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 2.70 and a beta of 1.40.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.09. The firm had revenue of $481.70 million for the quarter, compared to analysts’ expectations of $453.26 million. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Equities research analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current 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.