CenterBook Partners LP Makes New Investment in Openlane $OPLN

CenterBook Partners LP purchased a new position in Openlane (NYSE:OPLN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,805 shares of the company’s stock, valued at approximately $828,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Openlane in the fourth quarter worth approximately $26,000. First Horizon Corp acquired a new position in Openlane in the fourth quarter worth approximately $27,000. Allworth Financial LP acquired a new position in Openlane in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new position in Openlane in the 4th quarter worth approximately $39,000. Finally, Fifth Third Bancorp purchased a new position in Openlane during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Stock Down 1.2%

Openlane stock opened at $36.70 on Thursday. The firm’s fifty day moving average is $33.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a 12 month low of $22.09 and a 12 month high of $38.82. The stock has a market cap of $3.89 billion, a PE ratio of -35.98, a P/E/G ratio of 1.91 and a beta of 1.27.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million for the quarter. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, equities research analysts expect that Openlane will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider directly owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James P. Coyle sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the transaction, the executive vice president owned 58,512 shares in the company, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 111,972 shares of company stock valued at $4,018,932. Insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

OPLN has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research report on Wednesday, May 6th. 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 reiterated a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. Finally, Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Openlane 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.