Hillsdale Investment Management Inc. Buys Shares of 292,000 Openlane $OPLN

Hillsdale Investment Management Inc. bought a new stake in shares of Openlane (NYSE:OPLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 292,000 shares of the company’s stock, valued at approximately $8,696,000. Hillsdale Investment Management Inc. owned 0.27% of Openlane as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in shares of Openlane during the 4th quarter valued at $10,650,000. Geode Capital Management LLC acquired a new stake in shares of Openlane during the 4th quarter valued at $79,199,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Openlane during the 4th quarter valued at $2,059,000. Legal & General Group Plc acquired a new stake in shares of Openlane during the 4th quarter valued at $8,333,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Openlane during the 4th quarter valued at $15,206,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OPLN. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $38.00 in a research note on Wednesday. Weiss Ratings lowered shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Northcoast Research set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Insider Buying and Selling at Openlane

In related news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the completion of the sale, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tobin P. Richer sold 4,000 shares of Openlane stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.31, for a total transaction of $153,240.00. Following the completion of the sale, the executive vice president directly owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. The trade was a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,972 shares of company stock worth $4,018,932 in the last 90 days. 2.22% of the stock is currently owned by company insiders.

Openlane Trading Up 1.3%

OPLN stock opened at $38.14 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a 1 year low of $22.09 and a 1 year high of $38.52. The firm has a fifty day simple moving average of $32.15. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -37.39, a PEG ratio of 1.95 and a beta of 1.22.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million during the quarter. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts forecast that Openlane will post 1.3 EPS for the current fiscal year.

About Openlane

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.