Park West Asset Management LLC Takes Position in Openlane $OPLN

Park West Asset Management LLC bought a new position in Openlane (NYSE:OPLN) during the second quarter, Holdings Channel reports. The fund bought 1,124,348 shares of the company’s stock, valued at approximately $46,368,000. Openlane comprises about 3.2% of Park West Asset Management LLC’s holdings, making the stock its 11th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of Openlane by 94.2% in the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 475 shares during the period. Allworth Financial LP purchased a new stake in Openlane during the fourth quarter valued at about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in Openlane during the fourth quarter valued at about $39,000. Fifth Third Bancorp acquired a new position in shares of Openlane in the fourth quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Openlane in the fourth quarter worth approximately $42,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OPLN shares. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and increased their target price for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday, August 5th. Finally, Robert W. Baird set a $40.00 price target on Openlane in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Openlane presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Insider Buying and Selling at Openlane

In other Openlane news, CEO Peter J. Kelly purchased 14,830 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the acquisition, the chief executive officer owned 14,830 shares of the company’s stock, valued at $500,067.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.22% of the company’s stock.

Openlane Trading Up 0.9%

Shares of NYSE:OPLN opened at $34.62 on Thursday. The firm has a fifty day moving average of $38.53 and a two-hundred day moving average of $34.08. 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 12-month low of $24.32 and a 12-month high of $42.90. The firm has a market capitalization of $4.25 billion, a P/E ratio of -40.73, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The firm had revenue of $554.60 million during the quarter. Openlane’s revenue for the quarter was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. On average, equities analysts expect that Openlane will post 1.45 EPS for the current fiscal year.

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.