OPENLANE (NYSE:KAR) Reaches New 12-Month High at $17.42

Shares of OPENLANE, Inc. (NYSE:KARGet Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $17.42 and last traded at $17.38, with a volume of 93995 shares changing hands. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KAR shares. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Wednesday, February 21st. Stephens reaffirmed an “equal weight” rating and issued a $13.00 price objective on shares of OPENLANE in a research report on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, OPENLANE currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Check Out Our Latest Research Report on KAR

OPENLANE Stock Down 0.5 %

The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.84 billion, a PE ratio of -9.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.45. The company’s 50-day moving average is $15.36 and its 200 day moving average is $14.85.

OPENLANE (NYSE:KARGet Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. The company had revenue of $391.30 million during the quarter, compared to analyst estimates of $392.56 million. During the same period last year, the firm posted $0.33 EPS. OPENLANE’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that OPENLANE, Inc. will post 0.83 EPS for the current year.

Insider Transactions at OPENLANE

In related news, CEO Peter J. Kelly purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $14.87 per share, with a total value of $148,700.00. Following the purchase, the chief executive officer now owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other OPENLANE news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the sale, the insider now owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter J. Kelly bought 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in OPENLANE by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 169,339 shares of the specialty retailer’s stock valued at $2,508,000 after buying an additional 2,231 shares during the period. Barclays PLC raised its holdings in OPENLANE by 267.2% in the 4th quarter. Barclays PLC now owns 195,420 shares of the specialty retailer’s stock valued at $2,893,000 after buying an additional 142,198 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in OPENLANE in the 4th quarter valued at about $362,000. Prelude Capital Management LLC raised its holdings in OPENLANE by 92.4% in the 4th quarter. Prelude Capital Management LLC now owns 20,486 shares of the specialty retailer’s stock valued at $303,000 after buying an additional 9,841 shares during the period. Finally, Public Sector Pension Investment Board grew its position in OPENLANE by 65.7% in the 4th quarter. Public Sector Pension Investment Board now owns 224,157 shares of the specialty retailer’s stock valued at $3,320,000 after acquiring an additional 88,872 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About OPENLANE

(Get Free Report)

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.

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