Openlane (NYSE:OPLN) CEO Peter Kelly Buys 14,830 Shares

Openlane (NYSE:OPLN) CEO Peter Kelly purchased 14,830 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $33.72 per share, with a total value of $500,067.60. Following the purchase, the chief executive officer owned 14,830 shares of the company’s stock, valued at $500,067.60. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Trading Up 0.9%

OPLN opened at $34.62 on Thursday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -40.73, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The company has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $34.08.

Openlane (NYSE:OPLN) last released its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $554.60 million for the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. Openlane’s quarterly revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Analysts predict that Openlane will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Northcoast Research set a $50.00 price objective on shares of Openlane in a research report on Wednesday, August 5th. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Robert W. Baird set a $40.00 target price on Openlane in a report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Bank of America boosted their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Institutional Trading of Openlane

Several institutional investors have recently modified their holdings of OPLN. PNC Financial Services Group Inc. lifted its holdings in Openlane by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after buying an additional 353 shares during the period. Versant Capital Management Inc increased its stake in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after buying an additional 475 shares during the period. Nykredit A S acquired a new stake in shares of Openlane in the second quarter valued at about $46,000. Allworth Financial LP bought a new position in shares of Openlane during the fourth quarter worth about $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Openlane in the fourth quarter worth approximately $39,000. Institutional investors own 99.76% of the company’s stock.

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.