Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 38,769 Shares

Openlane (NYSE:OPLN) EVP Charles Coleman sold 38,769 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $35.21, for a total value of $1,365,056.49. Following the sale, the executive vice president owned 74,334 shares in the company, valued at $2,617,300.14. The trade was a 34.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Openlane Price Performance

Shares of NYSE:OPLN traded down $0.03 during midday trading on Thursday, reaching $35.01. The company’s stock had a trading volume of 69,220 shares, compared to its average volume of 1,047,328. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a market capitalization of $4.25 billion, a P/E ratio of -47.30, a P/E/G ratio of 1.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day simple moving average is $35.95 and its 200-day simple moving average is $34.37.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The business had revenue of $561.20 million for the quarter. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Openlane will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Openlane

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Openlane in the second quarter valued at approximately $660,070,000. Hawk Ridge Capital Management LP raised its position in shares of Openlane by 72.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after acquiring an additional 2,087,200 shares during the last quarter. Park West Asset Management LLC acquired a new position in shares of Openlane in the 2nd quarter valued at $46,368,000. Bank of New York Mellon Corp acquired a new position in shares of Openlane in the 2nd quarter valued at $32,668,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Openlane in the 2nd quarter valued at $31,447,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OPLN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. Wall Street Zen cut shares of Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays raised their price target on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered shares of Openlane from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Northcoast Research set a $50.00 price objective on shares of Openlane in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.83.

About Openlane

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels. The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.