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

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 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,057 shares of the specialty retailer's stock, valued at approximately $271,000.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of OPENLANE by 19.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock valued at $69,000 after buying an additional 590 shares during the period. Kathmere Capital Management LLC grew its stake in shares of OPENLANE by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer's stock valued at $760,000 after buying an additional 1,000 shares during the period. CWM LLC grew its stake in shares of OPENLANE by 34.5% in the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer's stock valued at $81,000 after buying an additional 1,077 shares during the period. Bank of Montreal Can grew its stake in shares of OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock valued at $263,000 after buying an additional 1,161 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of OPENLANE by 1.1% in the 4th quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock valued at $2,509,000 after buying an additional 1,339 shares during the period. 99.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Charles S. Coleman sold 59,289 shares of the business'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 value of $1,658,313.33. Following the transaction, the executive vice president owned 53,474 shares in the company, valued at $1,495,667.78. The trade was a 52.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James P. Coyle sold 194,575 shares of the business'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 completion of the transaction, the executive vice president owned 36,851 shares in the company, valued at $1,029,616.94. The trade was a 84.08% decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KAR. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America raised their target price on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. raised their target price on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Barrington Research raised their target price on OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Two investment 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 presently has an average rating of "Moderate Buy" and an average target price of $26.50.

OPENLANE Stock Performance

KAR stock opened at $29.1450 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.40. OPENLANE, Inc. has a 52-week low of $15.44 and a 52-week high of $29.19. The business has a 50-day simple moving average of $25.43 and a two-hundred day simple moving average of $22.35.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.09. The business had revenue of $481.70 million during the quarter, compared to the consensus estimate of $453.26 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. As a group, sell-side analysts forecast that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

About OPENLANE

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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