OPENLANE, Inc. (NYSE:KAR - Get Free Report) CFO Brad S. Lakhia purchased 4,985 shares of the firm's stock in a transaction that occurred 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
OPENLANE Trading Up 1.5 %
Shares of KAR opened at $19.86 on Friday. The firm's 50-day moving average is $16.77 and its two-hundred day moving average is $17.06. OPENLANE, Inc. has a twelve month low of $12.86 and a twelve month high of $20.45. The firm has a market capitalization of $2.12 billion, a P/E ratio of 76.38, a PEG ratio of 1.91 and a beta of 1.44.
OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $448.00 million during 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%. OPENLANE's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Analysts predict that OPENLANE, Inc. will post 0.85 EPS for the current year.
Analyst Ratings Changes
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Separately, Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a report on Monday, November 4th.
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Institutional Investors Weigh In On OPENLANE
A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of OPENLANE by 77.4% in the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer's stock valued at $930,000 after purchasing an additional 23,462 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in OPENLANE by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer's stock valued at $1,635,000 after buying an additional 1,264 shares in the last quarter. ProShare Advisors LLC grew its holdings in OPENLANE by 6.4% during the 1st quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer's stock valued at $373,000 after buying an additional 1,290 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in OPENLANE by 33.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 41,021 shares of the specialty retailer's stock worth $710,000 after buying an additional 10,200 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of OPENLANE by 1.0% in the first quarter. Burgundy Asset Management Ltd. now owns 8,775,701 shares of the specialty retailer's stock worth $151,820,000 after acquiring an additional 84,835 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.
OPENLANE Company Profile
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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.
Further Reading
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