OPENLANE (NYSE:KAR) Hits New 12-Month High at $17.02

OPENLANE, Inc. (NYSE:KAR) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.02 and last traded at $17.02, with a volume of 82155 shares changing hands. The stock had previously closed at $16.88.

Analyst Upgrades and Downgrades

KAR has been the topic of several recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Wednesday, February 21st. Stephens reissued an “equal weight” rating and issued a $13.00 price target on shares of OPENLANE in a research note on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.75.

OPENLANE Trading Up 1.0 %

The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $15.05 and a two-hundred day moving average price of $14.79.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The business had revenue of $391.30 million during the quarter, compared to the consensus estimate of $392.56 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. OPENLANE’s revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that OPENLANE, Inc. will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at OPENLANE

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of OPENLANE stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of OPENLANE stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James E. Money II sold 14,822 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The disclosure for this sale can be found here. Corporate insiders own 2.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in shares of OPENLANE by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 169,339 shares of the specialty retailer’s stock worth $2,508,000 after acquiring an additional 2,231 shares during the period. Barclays PLC grew its stake in shares of OPENLANE by 267.2% during the 4th quarter. Barclays PLC now owns 195,420 shares of the specialty retailer’s stock worth $2,893,000 after acquiring an additional 142,198 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of OPENLANE during the 4th quarter worth $362,000. Prelude Capital Management LLC grew its stake in shares of OPENLANE by 92.4% during the 4th quarter. Prelude Capital Management LLC now owns 20,486 shares of the specialty retailer’s stock worth $303,000 after acquiring an additional 9,841 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in OPENLANE by 65.7% during the 4th quarter. Public Sector Pension Investment Board now owns 224,157 shares of the specialty retailer’s stock worth $3,320,000 after purchasing an additional 88,872 shares in the last quarter. Institutional investors 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.