Y Intercept Hong Kong Ltd Makes New $2.48 Million Investment in Openlane $OPLN

Y Intercept Hong Kong Ltd bought a new stake in Openlane (NYSE:OPLN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 84,979 shares of the company’s stock, valued at approximately $2,477,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Openlane during the 4th quarter worth about $26,000. First Horizon Corp acquired a new stake in Openlane in the 4th quarter worth about $27,000. Allworth Financial LP purchased a new stake in Openlane during the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Openlane during the fourth quarter valued at approximately $39,000. Finally, Fifth Third Bancorp purchased a new position in shares of Openlane in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Activity

In related news, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James P. Coyle sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 111,972 shares of company stock worth $4,018,932. Corporate insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird set a $40.00 price target on Openlane in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. 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 given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Openlane Stock Down 0.1%

NYSE OPLN opened at $41.10 on Wednesday. The business’s fifty day moving average is $37.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -40.30, a PEG ratio of 2.11 and a beta of 1.26. Openlane has a 52 week low of $24.10 and a 52 week high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings data 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 firm had revenue of $527.90 million during the quarter. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts expect that Openlane will post 1.31 EPS for the current year.

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.