OPENLANE, Inc. (NYSE:KAR) EVP James P. Coyle Sells 6,000 Shares

OPENLANE, Inc. (NYSE:KAR - Get Free Report) EVP James P. Coyle sold 6,000 shares of OPENLANE stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.09, for a total value of $108,540.00. Following the completion of the sale, the executive vice president now directly owns 23,885 shares of the company's stock, valued at $432,079.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

OPENLANE Stock Up 0.2 %

KAR traded up $0.03 on Thursday, hitting $17.98. 519,878 shares of the company were exchanged, compared to its average volume of 751,412. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $18.41. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -10.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.42. 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 firm has a 50-day moving average price of $17.11 and a two-hundred day moving average price of $15.47.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, equities analysts predict that OPENLANE, Inc. will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On OPENLANE

Several institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC raised its holdings in OPENLANE by 16,018.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 1,762 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 acquiring an additional 1,171 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in OPENLANE during the 4th quarter worth $164,000. Oak Thistle LLC purchased a new position in shares of OPENLANE during the fourth quarter worth about $190,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of OPENLANE during the fourth quarter worth about $221,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Thursday, May 2nd. Robert W. Baird lifted their price objective on OPENLANE from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 2nd. Finally, Bank of America raised OPENLANE from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

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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