Kimelman & Baird LLC Invests $31.45 Million in Openlane $OPLN

Kimelman & Baird LLC bought a new stake in shares of Openlane (NYSE:OPLN) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 762,535 shares of the company’s stock, valued at approximately $31,447,000. Openlane accounts for about 1.7% of Kimelman & Baird LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after buying an additional 475 shares during the last quarter. Allworth Financial LP bought a new position in Openlane during the fourth quarter valued at $38,000. Nomura Asset Management Co. Ltd. bought a new position in Openlane during the fourth quarter valued at $39,000. Fifth Third Bancorp purchased a new stake in shares of Openlane in the fourth quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Openlane in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Openlane Trading Down 1.1%

OPLN opened at $35.11 on Friday. The stock’s fifty day moving average is $38.42 and its two-hundred day moving average is $34.13. The company has a market capitalization of $4.31 billion, a P/E ratio of -41.31, a PEG ratio of 2.18 and a beta of 1.28. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. 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 (NYSE:OPLN) last issued its earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The business had revenue of $554.60 million during the quarter. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Analysts forecast that Openlane will post 1.45 earnings per share for the current year.

Analyst Ratings Changes

OPLN has been the subject of a number of recent analyst reports. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. Bank of America raised their price objective on shares of Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. Finally, Barclays upped their target price on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Openlane currently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Insider Buying and Selling at Openlane

In other news, CEO Peter J. Kelly acquired 14,830 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $33.72 per share, for a total transaction of $500,067.60. Following the completion of the acquisition, the chief executive officer directly owned 14,830 shares of the company’s stock, valued at $500,067.60. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.22% of the stock is owned by insiders.

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.