Horizon Kinetics Asset Management LLC Invests $2.13 Million in Openlane $OPLN

Horizon Kinetics Asset Management LLC bought a new stake in shares of Openlane (NYSE:OPLN) in the 4th quarter, Holdings Channel.com reports. The firm bought 71,548 shares of the company’s stock, valued at approximately $2,131,000.

Several other institutional investors also recently bought and sold shares of OPLN. Yousif Capital Management LLC purchased a new stake in Openlane during the 4th quarter valued at about $857,000. Smith Moore & CO. purchased a new stake in Openlane during the 4th quarter valued at about $448,000. State of Alaska Department of Revenue purchased a new stake in Openlane during the 4th quarter valued at about $2,211,000. Guidance Capital Inc. purchased a new stake in Openlane during the 4th quarter valued at about $770,000. Finally, CWM LLC purchased a new stake in Openlane during the 4th quarter valued at about $320,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Openlane news, EVP Tobin P. Richer sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.31, for a total value of $153,240.00. Following the completion of the sale, the executive vice president owned 24,697 shares in the company, valued at approximately $946,142.07. This trade represents a 13.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was 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. This trade represents a 29.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 111,972 shares of company stock worth $4,018,932. Corporate insiders own 2.22% of the company’s stock.

Openlane Stock Performance

NYSE OPLN opened at $37.18 on Wednesday. Openlane has a fifty-two week low of $22.09 and a fifty-two week high of $38.82. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $33.57. The stock has a market cap of $3.94 billion, a PE ratio of -36.45, a P/E/G ratio of 1.87 and a beta of 1.27.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The business had revenue of $527.90 million during the quarter. During the same quarter last year, the business posted $0.31 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts predict that Openlane will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

OPLN has been the subject of several analyst reports. 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. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Robert W. Baird set a $40.00 target price on Openlane in a report on Wednesday, May 6th. Barclays increased their target price on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Openlane currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.