Openlane $OPLN Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lowered its stake in Openlane (NYSE:OPLN) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 790,826 shares of the company’s stock after selling 209,436 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Openlane were worth $26,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Openlane by 112.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 519,770 shares of the company’s stock worth $17,740,000 after buying an additional 274,996 shares in the last quarter. R Squared Ltd bought a new position in shares of Openlane in the third quarter valued at approximately $227,000. Maryland State Retirement & Pension System increased its stake in shares of Openlane by 60.9% during the third quarter. Maryland State Retirement & Pension System now owns 24,916 shares of the company’s stock valued at $850,000 after acquiring an additional 9,429 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Openlane by 0.6% during the third quarter. Illinois Municipal Retirement Fund now owns 58,580 shares of the company’s stock valued at $1,999,000 after acquiring an additional 377 shares during the period. Finally, Lido Advisors LLC increased its stake in shares of Openlane by 15.0% during the third quarter. Lido Advisors LLC now owns 15,315 shares of the company’s stock valued at $523,000 after acquiring an additional 1,997 shares during the period. Institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OPLN. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. Zacks Research lowered shares of Openlane from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Wall Street Zen cut shares of Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays raised their target price on shares of Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Northcoast Research set a $50.00 price target on shares of Openlane in a research report on Wednesday, August 5th. Four research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Insider Activity

In related news, Director Michael T. Kestner sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $35.23, for a total transaction of $281,840.00. Following the transaction, the director directly owned 2,922 shares of the company’s stock, valued at approximately $102,942.06. The trade was a 73.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Coyle sold 80,755 shares of Openlane stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $35.21, for a total transaction of $2,843,383.55. Following the sale, the executive vice president directly owned 48,884 shares of the company’s stock, valued at $1,721,205.64. This trade represents a 62.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 170,685 shares of company stock valued at $6,027,636 in the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Trending Headlines about Openlane

Investors following OPLN have been watching these headlines:

• Positive Sentiment: In its latest reported quarter, Openlane posted earnings of $0.43 per share, beating the $0.39 consensus estimate, while revenue rose 12.6% year over year to $561.2 million.
• Negative Sentiment: Several executives and a director sold shares: EVP Charles Coleman sold 38,769 shares, and a separate filing reported another 1,207-share sale; EVP Tobin Richer sold 3,458 shares; and director Michael Kestner sold 8,000 shares, reducing his position by 73.25%. Multiple insider sales can raise concerns about management and director confidence, though sales alone do not establish their reasons. Insider sale details

Openlane Trading Up 1.0%

NYSE OPLN traded up $0.34 on Friday, hitting $35.08. 589,385 shares of the stock were exchanged, compared to its average volume of 1,022,194. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90. 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 company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -47.41, a P/E/G ratio of 1.55 and a beta of 1.35. The company’s 50-day moving average price is $35.95 and its two-hundred day moving average price is $34.42.

Openlane (NYSE:OPLN) last released its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $561.20 million during the quarter. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Research analysts predict that Openlane will post 1.49 EPS for the current year.

Openlane Profile

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.