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

OPENLANE, Inc. (NYSE:KAR - Get Free Report) shares hit a new 52-week high on Monday . The company 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

A number of equities research analysts have weighed in on KAR shares. Stephens reaffirmed an "equal weight" rating and issued a $13.00 price objective on shares of OPENLANE in a report on Tuesday, December 5th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, OPENLANE presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.75.

OPENLANE Price Performance

The company has a 50 day moving average price of $15.31 and a 200 day moving average price of $14.84. The firm has a market cap of $1.85 billion, a PE ratio of -9.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.45. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $391.30 million for the quarter, compared to analyst estimates of $392.56 million. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. On average, sell-side analysts expect that OPENLANE, Inc. will post 0.83 EPS for the current year.

Insider Activity at OPENLANE

In related news, insider James E. Money II sold 14,822 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $15.83, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider James E. Money II sold 14,822 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $15.83, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter J. Kelly bought 10,000 shares of OPENLANE stock in a transaction that occurred on Monday, February 26th. The stock was bought 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 approximately $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. State of Wyoming lifted its stake in shares of OPENLANE by 25.0% during the 2nd quarter. State of Wyoming now owns 4,649 shares of the specialty retailer's stock worth $71,000 after purchasing an additional 931 shares during the period. Lazard Asset Management LLC lifted its stake in shares of OPENLANE by 14.3% during the 3rd quarter. Lazard Asset Management LLC now owns 7,816 shares of the specialty retailer's stock worth $116,000 after purchasing an additional 975 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of OPENLANE by 51.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 1,171 shares during the period. ProShare Advisors LLC lifted its stake in shares of OPENLANE by 7.7% during the 2nd quarter. ProShare Advisors LLC now owns 16,900 shares of the specialty retailer's stock worth $257,000 after purchasing an additional 1,210 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of OPENLANE by 165.8% during the 3rd quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer's stock worth $30,000 after purchasing an additional 1,686 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.