57,109 Shares in OPENLANE, Inc. (NYSE:KAR) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in shares of OPENLANE, Inc. (NYSE:KAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 57,109 shares of the specialty retailer’s stock, valued at approximately $846,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in OPENLANE by 51.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,171 shares during the period. Oak Thistle LLC bought a new stake in OPENLANE in the 4th quarter valued at $190,000. International Assets Investment Management LLC boosted its holdings in OPENLANE by 1,381.0% in the 4th quarter. International Assets Investment Management LLC now owns 17,402 shares of the specialty retailer’s stock valued at $258,000 after purchasing an additional 16,227 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in OPENLANE by 32.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,716 shares of the specialty retailer’s stock valued at $264,000 after purchasing an additional 4,370 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in OPENLANE by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,134 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 2,057 shares during the period. 99.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Peter J. Kelly bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider James E. Money II sold 14,822 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the sale, the insider now owns 44,604 shares in the company, valued at approximately $706,081.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the acquisition, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by corporate insiders.

OPENLANE Trading Down 0.7 %

Shares of KAR stock opened at $17.38 on Friday. OPENLANE, Inc. has a 52-week low of $12.86 and a 52-week high of $17.70. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -9.50, a P/E/G ratio of 0.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a fifty day moving average of $16.31 and a 200-day moving average of $15.09.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KAR shares. Bank of America raised shares of OPENLANE from an “underperform” rating to a “neutral” rating and increased their price target for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, OPENLANE has an average rating of “Hold” and a consensus price target of $19.50.

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.