357,625 Shares in Openlane $OPLN Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Openlane (NYSE:OPLN) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 357,625 shares of the company’s stock, valued at approximately $10,650,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OPLN. Vanguard Group Inc. acquired a new position in Openlane during the 4th quarter worth about $348,271,000. Geode Capital Management LLC acquired a new position in Openlane during the 4th quarter worth about $79,199,000. Kimelman & Baird LLC acquired a new position in Openlane during the 4th quarter worth about $24,117,000. Paradice Investment Management LLC acquired a new position in Openlane during the 4th quarter worth about $23,837,000. Finally, William Blair Investment Management LLC acquired a new position in Openlane during the 4th quarter worth about $15,206,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OPLN has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $38.00 in a research report on Wednesday. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, March 3rd. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Northcoast Research set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Openlane Trading Up 1.3%

Openlane stock opened at $38.14 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a 1 year low of $22.09 and a 1 year high of $38.52. The firm has a market cap of $4.04 billion, a P/E ratio of -37.39, a PEG ratio of 1.95 and a beta of 1.22. The company’s 50-day simple moving average is $32.15.

Openlane (NYSE:OPLN) last released its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million for the quarter. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts forecast that Openlane will post 1.3 EPS for the current year.

Insider Buying and Selling at Openlane

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the transaction, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,665,617.24. This represents a 21.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tobin P. Richer sold 66,709 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total value of $2,386,180.93. Following the completion of the sale, the executive vice president directly owned 28,697 shares of the company’s stock, valued at approximately $1,026,491.69. This trade represents a 69.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is currently owned by company insiders.

Openlane Company Profile

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.