Brad S. Lakhia Acquires 4,985 Shares of OPENLANE, Inc. (NYSE:KAR) Stock

OPENLANE, Inc. (NYSE:KAR - Get Free Report) CFO Brad S. Lakhia purchased 4,985 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the purchase, the chief financial officer now owns 14,303 shares in the company, valued at approximately $286,918.18. The trade was a 53.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

OPENLANE Stock Up 1.5 %

NYSE:KAR traded up $0.29 during mid-day trading on Friday, reaching $19.86. The company's stock had a trading volume of 602,819 shares, compared to its average volume of 704,781. The firm has a market capitalization of $2.12 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44. The stock has a fifty day moving average of $16.77 and a 200-day moving average of $17.06. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $20.45.

OPENLANE (NYSE:KAR - Get Free Report) 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. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The company had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. During the same quarter last year, the business posted $0.18 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts expect that OPENLANE, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research note on Monday, November 4th.

Institutional Trading of OPENLANE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted its holdings in OPENLANE by 5.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer's stock worth $267,000 after buying an additional 793 shares during the last quarter. Louisiana State Employees Retirement System raised its position in OPENLANE by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the specialty retailer's stock worth $904,000 after acquiring an additional 1,000 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of OPENLANE by 175.5% during the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 1,018 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in OPENLANE by 0.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer's stock valued at $1,896,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted 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 worth $1,635,000 after buying an additional 1,264 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.