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 the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the transaction, the executive vice president now directly owns 36,511 shares of the company's stock, valued at $793,018.92. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OPENLANE Stock Performance

KAR traded down $0.01 on Friday, hitting $22.28. 428,099 shares of the company were exchanged, compared to its average volume of 732,850. The business's fifty day moving average is $19.66 and its 200 day moving average is $20.02. The firm has a market capitalization of $2.39 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32. OPENLANE, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86.

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

Analyst Ratings Changes

Several research analysts recently issued reports on KAR shares. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $20.00 to $26.00 in a report on Friday, February 28th. Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of OPENLANE from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th. Finally, StockNews.com upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds have recently made changes to their positions in KAR. Barclays PLC boosted its holdings in shares of OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after purchasing an additional 138,720 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of OPENLANE by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,502 shares of the specialty retailer's stock valued at $2,355,000 after purchasing an additional 10,962 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in shares of OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock valued at $832,000 after purchasing an additional 1,477 shares during the last quarter. KBC Group NV boosted its holdings in shares of OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of OPENLANE in the 4th quarter valued at $187,000. 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.