OPENLANE (NYSE:KAR) Reaches New 1-Year High at $17.73

OPENLANE, Inc. (NYSE:KAR - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $17.73 and last traded at $17.73, with a volume of 549781 shares trading hands. The stock had previously closed at $17.18.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America upgraded OPENLANE from an "underperform" rating to a "neutral" rating and increased their price target for the company from $16.00 to $20.00 in a research report on Wednesday, April 10th. Barrington Research reiterated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, OPENLANE has an average rating of "Hold" and an average price target of $19.50.

OPENLANE Stock Performance

The firm has a 50 day moving average of $16.61 and a 200-day moving average of $15.19. The stock has a market capitalization of $1.89 billion, a PE ratio of -9.54, a P/E/G ratio of 0.94 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15.

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

Insider Transactions at OPENLANE

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sunriver Management LLC grew its holdings in OPENLANE by 729.7% in the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer's stock valued at $34,627,000 after buying an additional 2,056,280 shares during the last quarter. Norges Bank acquired a new stake in OPENLANE in the 4th quarter valued at approximately $10,426,000. Invenomic Capital Management LP acquired a new stake in OPENLANE in the 4th quarter valued at approximately $6,009,000. Dimensional Fund Advisors LP grew its holdings in OPENLANE by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer's stock valued at $104,550,000 after buying an additional 399,073 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in OPENLANE in the 4th quarter valued at approximately $4,069,000. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Company 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.