OPENLANE, Inc. (NYSE:KAR) EVP James P. Coyle Sells 7,000 Shares

OPENLANE, Inc. (NYSE:KAR - Get Free Report) EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $21.72, for a total transaction of $152,040.00. Following the sale, the executive vice president now owns 36,511 shares in the company, valued at approximately $793,018.92. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

OPENLANE Price Performance

Shares of OPENLANE stock traded down $0.09 on Thursday, reaching $22.25. The company had a trading volume of 157,558 shares, compared to its average volume of 730,254. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 42.01, a P/E/G ratio of 1.85 and a beta of 1.32. The firm's 50-day moving average price is $19.61 and its two-hundred day moving average price is $19.91. OPENLANE, Inc. has a 1 year low of $15.44 and a 1 year high of $22.86.

OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $460.10 million during the quarter, compared to analyst estimates of $445.70 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. The business's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. As a group, analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KAR. Nisa Investment Advisors LLC grew its holdings in shares of OPENLANE by 19.8% in the first quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock worth $69,000 after purchasing an additional 590 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in OPENLANE by 29.0% in 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 during the last quarter. Kathmere Capital Management LLC raised its stake in shares of OPENLANE by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer's stock worth $760,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC lifted its holdings in shares of OPENLANE by 34.5% during the 1st quarter. CWM LLC now owns 4,198 shares of the specialty retailer's stock valued at $81,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock worth $263,000 after purchasing an additional 1,161 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a report on Friday, February 21st. StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $20.00 in a research note on Thursday, March 27th.

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.