OPENLANE, Inc. (NYSE:KAR) Short Interest Update

OPENLANE, Inc. (NYSE:KAR - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 3,640,000 shares, a growth of 6.1% from the April 15th total of 3,430,000 shares. Based on an average daily trading volume, of 850,500 shares, the short-interest ratio is presently 4.3 days. Approximately 3.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of OPENLANE in a research note on Thursday, May 2nd. Bank of America raised OPENLANE from an "underperform" rating to a "neutral" rating and raised their price target for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Finally, Robert W. Baird boosted their price objective on OPENLANE from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

OPENLANE Stock Down 2.1 %

OPENLANE stock traded down $0.38 during mid-day trading on Friday, reaching $17.60. The company's stock had a trading volume of 489,280 shares, compared to its average volume of 842,376. 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 has a 12 month low of $12.86 and a 12 month high of $18.41. The business's 50 day simple moving average is $17.19 and its 200 day simple moving average is $15.53. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -9.83, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The company had revenue of $416.30 million during the quarter, compared to analyst estimates of $425.19 million. During the same period in the previous year, the company posted $0.12 EPS. The company's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that OPENLANE will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the company's stock in a transaction dated Monday, February 26th. The stock was bought at an average price 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other OPENLANE news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the transaction, the insider now directly owns 44,604 shares of the company's stock, valued at $706,081.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter J. Kelly bought 10,000 shares of OPENLANE stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares in the company, valued at approximately $4,808,288.85. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KAR. TFO Wealth Partners LLC grew its position in OPENLANE by 16,018.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 1,762 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $51,000 after purchasing an additional 1,171 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in OPENLANE during the 4th quarter worth approximately $164,000. Oak Thistle LLC bought a new position in OPENLANE in the 4th quarter valued at approximately $190,000. Finally, Capstone Investment Advisors LLC bought a new position in OPENLANE in the 4th quarter valued at approximately $221,000. 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.