Openlane (NYSE:OPLN) CEO Buys 14,830 Shares of Stock

Openlane (NYSE:OPLN) CEO Peter Kelly purchased 14,830 shares of the business’s stock in a transaction on 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 completion of the acquisition, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Openlane Trading Up 0.9%

Shares of NYSE:OPLN traded up $0.31 during mid-day trading on Wednesday, hitting $34.62. The company had a trading volume of 1,696,514 shares, compared to its average volume of 1,025,288. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. Openlane has a one year low of $24.32 and a one year high of $42.90. The firm has a fifty day moving average price of $38.58 and a 200 day moving average price of $34.04. The company has a market capitalization of $4.25 billion, a PE ratio of -40.73, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $554.60 million for the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. Openlane’s revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, research analysts forecast that Openlane will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Openlane

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Openlane during the 2nd quarter worth $660,070,000. Vanguard Group Inc. purchased a new stake in shares of Openlane in the fourth quarter valued at about $348,271,000. Bank of Montreal Can purchased a new stake in shares of Openlane in the fourth quarter valued at about $220,158,000. Dimensional Fund Advisors LP bought a new position in shares of Openlane during the fourth quarter valued at about $200,309,000. Finally, California State Teachers Retirement System boosted its holdings in Openlane by 3,908.8% during the second quarter. California State Teachers Retirement System now owns 5,103,409 shares of the company’s stock worth $210,465,000 after purchasing an additional 4,976,105 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Bank of America upped their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays increased their price target on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Northcoast Research set a $50.00 price objective on Openlane in a report on Wednesday, August 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Openlane in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Openlane presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Openlane Company 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.