Legato Capital Management LLC Makes New $554,000 Investment in Openlane $OPLN

Legato Capital Management LLC purchased a new position in shares of Openlane (NYSE:OPLN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,618 shares of the company’s stock, valued at approximately $554,000.

Other large investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Openlane during the fourth quarter worth approximately $26,000. First Horizon Corp purchased a new position in shares of Openlane during the fourth quarter worth approximately $27,000. Allworth Financial LP purchased a new position in shares of Openlane during the fourth quarter worth approximately $38,000. Fifth Third Bancorp purchased a new position in shares of Openlane during the fourth quarter worth approximately $40,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Openlane during the fourth quarter worth approximately $47,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on OPLN shares. JPMorgan Chase & Co. lifted their price target on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Northcoast Research set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Openlane presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Activity

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 sale, the insider owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the completion of the sale, the executive vice president owned 74,334 shares in the company, valued at approximately $2,665,617.24. This trade represents a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 111,972 shares of company stock valued at $4,018,932 in the last three months. Corporate insiders own 2.22% of the company’s stock.

Openlane Stock Up 0.7%

Shares of NYSE OPLN opened at $35.66 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a 52 week low of $22.09 and a 52 week high of $38.52. The business has a fifty day moving average price of $31.53. The stock has a market capitalization of $3.78 billion, a P/E ratio of -34.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping 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 company had revenue of $527.90 million for the quarter. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’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. Equities research analysts anticipate that Openlane will post 1.3 earnings per share for the current 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.