OPENLANE, Inc. (NYSE:KAR) CFO Acquires $99,999.10 in Stock

OPENLANE, Inc. (NYSE:KAR) CFO Brad S. Lakhia acquired 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

OPENLANE Trading Up 1.5 %

OPENLANE stock opened at $19.86 on Monday. The company has a market cap of $2.12 billion, a PE ratio of 76.39, a PEG ratio of 1.90 and a beta of 1.44. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45. The company’s 50-day moving average is $16.77 and its two-hundred day moving average is $17.05.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $448.00 million for the quarter, compared to analysts’ expectations of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. Research analysts forecast that OPENLANE, Inc. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On OPENLANE

Several institutional investors have recently added to or reduced their stakes in KAR. Geode Capital Management LLC raised its holdings in shares of OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after purchasing an additional 35,214 shares during the last quarter. Barclays PLC grew its position in OPENLANE by 344.7% in the third 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 in the last quarter. Paloma Partners Management Co acquired a new stake in OPENLANE in the 3rd quarter valued at $333,000. PDT Partners LLC increased its stake in OPENLANE by 128.7% in the 3rd quarter. PDT Partners LLC now owns 38,852 shares of the specialty retailer’s stock valued at $656,000 after buying an additional 21,866 shares during the last quarter. Finally, Clifford Capital Partners LLC bought a new stake in OPENLANE during the 3rd quarter worth about $10,309,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Monday, November 4th.

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.