OPENLANE, Inc. (NYSE:KAR) EVP James P. Coyle Sells 194,575 Shares

Key Points

• OPENLANE, Inc. EVP James P. Coyle sold 194,575 shares of stock at an average price of $27.94, resulting in a total transaction of $5,436,425.50 and an 84.08% decrease in his ownership of the company's stock.
• The company reported $0.33 EPS for the quarter, exceeding the consensus estimate of $0.24, with revenues of $481.70 million, up 11.6% year-over-year.
• Analysts have raised their price targets for OPENLANE, with Barrington Research increasing their target from $25.00 to $30.00 and classifying it as an "outperform."

OPENLANE, Inc. (NYSE:KAR - Get Free Report) EVP James P. Coyle sold 194,575 shares of OPENLANE stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $27.94, for a total transaction 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. This trade represents a 84.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

OPENLANE Trading Up 0.6%

KAR stock traded up $0.18 during trading on Wednesday, reaching $28.82. 138,349 shares of the stock were exchanged, compared to its average volume of 841,690. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $29.13. The company has a market capitalization of $3.06 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 2.71 and a beta of 1.40. The stock has a 50 day simple moving average of $24.67 and a 200-day simple moving average of $21.93.

OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%. The company had revenue of $481.70 million during the quarter, compared to the consensus estimate of $453.26 million. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. Equities analysts predict that OPENLANE, Inc. will post 0.95 EPS for the current year.

Institutional Investors Weigh In On OPENLANE

Institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the 4th quarter worth about $34,000. North Star Investment Management Corp. raised its position in OPENLANE by 77.6% in the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer's stock worth $39,000 after purchasing an additional 688 shares in the last quarter. Quarry LP lifted its stake in OPENLANE by 414.6% during the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 1,758 shares during the period. FSC Wealth Advisors LLC bought a new position in OPENLANE during the first quarter worth about $51,000. Finally, Smartleaf Asset Management LLC boosted its holdings in OPENLANE by 29.0% during the first quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer's stock valued at $63,000 after purchasing an additional 735 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America raised their price target on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Barrington Research raised their target price on OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price target on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, OPENLANE currently has an average rating of "Moderate Buy" and an average price target of $26.50.

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.