Openlane (NYSE:OPLN) EVP Charles Coleman Sells 1,207 Shares of Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.01, for a total value of $42,257.07. Following the sale, the executive vice president owned 74,334 shares in the company, valued at $2,602,433.34. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Openlane Trading Down 0.9%

NYSE:OPLN opened at $34.73 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $35.95 and its two-hundred day moving average is $34.39. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The company has a market cap of $4.22 billion, a PE ratio of 24.50, a P/E/G ratio of 1.56 and a beta of 1.35.

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

Hedge Funds Weigh In On Openlane

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its holdings in shares of Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock valued at $36,000 after purchasing an additional 405 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Openlane by 94.2% in the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after purchasing an additional 475 shares during the last quarter. Nykredit A S bought a new stake in shares of Openlane in the 2nd quarter worth approximately $46,000. Allworth Financial LP acquired a new position in Openlane during the 2nd quarter valued at approximately $56,000. Finally, Persistent Asset Partners Ltd acquired a new position in Openlane during the 2nd quarter valued at approximately $75,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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