OPENLANE, Inc. (NYSE:KAR) CFO Brad S. Lakhia Purchases 4,985 Shares

OPENLANE, Inc. (NYSE:KAR) CFO Brad S. Lakhia bought 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the purchase, the chief financial officer now directly owns 14,303 shares in the company, valued at $286,918.18. This represents a 53.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

OPENLANE Trading Up 0.7 %

NYSE:KAR traded up $0.13 during midday trading on Friday, hitting $19.70. 160,872 shares of the stock were exchanged, compared to its average volume of 702,790. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 75.27, a P/E/G ratio of 1.91 and a beta of 1.44. OPENLANE, Inc. has a one year low of $12.86 and a one year high of $20.45. The business has a 50-day moving average price of $16.70 and a two-hundred day moving average price of $17.04.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On OPENLANE

Several large investors have recently made changes to their positions in KAR. Paloma Partners Management Co bought a new stake in shares of OPENLANE in the 3rd quarter worth approximately $333,000. PDT Partners LLC grew its position in OPENLANE by 128.7% in the third quarter. PDT Partners LLC now owns 38,852 shares of the specialty retailer’s stock worth $656,000 after buying an additional 21,866 shares during the last quarter. Clifford Capital Partners LLC bought a new position in shares of OPENLANE in the third quarter valued at $10,309,000. BNP Paribas Financial Markets lifted its position in shares of OPENLANE by 6.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock valued at $403,000 after acquiring an additional 1,472 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of OPENLANE by 33.3% during the 3rd quarter. Quantbot Technologies LP now owns 33,734 shares of the specialty retailer’s stock worth $569,000 after acquiring an additional 8,419 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

About OPENLANE

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.