Openlane’s CFO Brad Lakhia buys $99,999 in the same stock By Investing.com
Brad S. Lakhia, Executive Vice President and Chief Financial Officer of OPENLANE, Inc. (NYSE:KAR), recently acquired shares in the company. According to the latest SEC filing, Lakhia purchased 4,985 shares of OPENLANE common stock on November 13, 2024, at a price of $20.06 per share. This transaction reaches a total value of approximately $99,999. After this acquisition, Lakhia’s direct ownership in the company increased to 14,303 shares. OPENLANE, formerly known as KAR Auction Services, Inc., is based in Carmel, Indiana.
In other recent news, OPENLANE, Inc. announced the upcoming resignation of its CFO, Brad S. Lakhia, effective March 1, 2025. The company also highlighted strong financial results for the third quarter of 2024, with CEO Peter Kelly and CFO Brad Lakhia. emphasizing the successful implementation of strategic plans. Meanwhile, Innoviz Technologies Ltd., an auto parts and accessories specialist, has scheduled its Annual General Meeting of Shareholders on December 17, 2024.
These recent developments reflect the dynamic nature of leadership changes and financial operations within these companies. OPENLANE’s major change underscores the importance of systematic change in business management, while its financial results reflect a successful quarter. On the other hand, Innoviz Technologies is preparing for the Annual General Meeting, which is an important part of corporate governance.
Investors interested in these companies should monitor these developments closely. It is important to remember that although these are recent events, they represent ongoing processes in companies, which may affect their future performance.
InvestingPro Insights
Brad S. Lakhia’s recent purchases of OPENLANE (NYSE:KAR) shares are consistent with several positive indicators highlighted by InvestingPro. The company’s shares have shown strong performance, with a gain of 23.47% over the past month and a gain of 33.58% over the past year. This upward trend is supported by InvestingPro Tips suggesting that revenue is expected to grow this year, and analysts have revised their earnings upward for the future.
The CFO’s decision to invest nearly $100,000 in the company’s stock may reflect confidence in OPENLANE’s financial health and growth prospects. InvestingPro data shows that the company has a market capitalization of $2.08 billion and generated revenue of $1.69 billion in the last twelve months from Q3 2023, with a revenue growth rate of 3.76%.
While OPENLANE trades at multiple multiples of earnings at a P/E ratio of 98.43, InvestingPro Tips indicates that it trades at a low P/E ratio relative to near-term earnings growth. This is also supported by a PEG ratio of 0.92, which suggests a potential valuation relative to growth expectations.
For investors looking for a more comprehensive analysis, InvestingPro offers more information on the 8 tips available at OPENLANE, which provides a deeper understanding of the company’s financial situation and market outlook.
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