Insider Selling: OPENLANE (NYSE:KAR) EVP Sells $2,289,612.00 in Stock

OPENLANE, Inc. (NYSE:KAR) EVP Charles Coleman sold 88,062 shares of OPENLANE stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $26.00, for a total transaction of $2,289,612.00. Following the transaction, the executive vice president directly owned 53,474 shares in the company, valued at $1,390,324. This trade represents a 62.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OPENLANE Price Performance

NYSE KAR traded up $0.12 during trading on Wednesday, hitting $25.95. 289,402 shares of the company’s stock traded hands, compared to its average volume of 851,761. The stock has a fifty day moving average of $26.37 and a two-hundred day moving average of $25.97. OPENLANE, Inc. has a 12-month low of $17.08 and a 12-month high of $30.93. The firm has a market cap of $2.76 billion, a P/E ratio of 29.88, a PEG ratio of 1.27 and a beta of 1.25.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $498.40 million during the quarter, compared to analyst estimates of $464.40 million. OPENLANE had a return on equity of 12.42% and a net margin of 9.00%.OPENLANE’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. As a group, analysts expect that OPENLANE, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KAR shares. Barrington Research upped their price target on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Zacks Research raised shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Barclays started coverage on shares of OPENLANE in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 price target for the company. Stephens boosted their price objective on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OPENLANE in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Institutional Investors Weigh In On OPENLANE

A number of institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in OPENLANE by 46.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,475 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 467 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of OPENLANE by 77.6% in the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 688 shares in the last quarter. Quarry LP bought a new stake in shares of OPENLANE in the 3rd quarter worth $48,000. Quantbot Technologies LP purchased a new position in shares of OPENLANE in the third quarter worth $82,000. Finally, USA Financial Formulas bought a new position in shares of OPENLANE during the third quarter valued at $83,000. Hedge funds and other 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.