14,057 Shares in OPENLANE, Inc. $KAR Acquired by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC invested approximately $271,000 in OPENLANE, acquiring 14,057 shares in the 1st quarter.
• Insider selling is notable, with EVP Charles S. Coleman and EVP James P. Coyle each selling over 194,000 shares, representing significant decreases in their holdings.
• OPENLANE has received a “buy” rating from Wall Street analysts, with a recent target price increase to $30.00 by Barrington Research.

EntryPoint Capital LLC acquired a new position in OPENLANE, Inc. (NYSE:KAR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,057 shares of the specialty retailer's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KAR. Canada Pension Plan Investment Board bought a new stake in OPENLANE during the 4th quarter worth about $34,000. Quarry LP grew its position in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after buying an additional 1,758 shares during the period. FSC Wealth Advisors LLC acquired a new position in shares of OPENLANE during the 1st quarter worth about $51,000. Johnson Financial Group Inc. acquired a new position in shares of OPENLANE during the 4th quarter worth about $68,000. Finally, Nisa Investment Advisors LLC grew its position in shares of OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock worth $69,000 after buying an additional 590 shares during the period. 99.76% of the stock is owned by institutional investors.

OPENLANE Stock Performance

NYSE KAR traded down $0.13 during trading on Thursday, hitting $28.97. The stock had a trading volume of 120,341 shares, compared to its average volume of 830,109. The company has a market capitalization of $3.08 billion, a PE ratio of 39.14, a P/E/G ratio of 2.79 and a beta of 1.40. The company's 50-day moving average price is $25.84 and its two-hundred day moving average price is $22.52. OPENLANE, Inc. has a 12 month low of $15.44 and a 12 month high of $29.37.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The company had revenue of $481.70 million for the quarter, compared to analysts' expectations of $453.26 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Charles S. Coleman sold 59,289 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.97, for a total transaction of $1,658,313.33. Following the sale, the executive vice president owned 53,474 shares in the company, valued at $1,495,667.78. This represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James P. Coyle sold 194,575 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total value of $5,436,425.50. Following the sale, the executive vice president owned 36,851 shares in the company, valued at approximately $1,029,616.94. This represents 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 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.