Openlane $OPLN Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its holdings in shares of Openlane (NYSE:OPLN) by 28.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,230 shares of the company’s stock after buying an additional 25,159 shares during the period. Public Employees Retirement System of Ohio’s holdings in Openlane were worth $3,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. acquired a new stake in Openlane during the fourth quarter worth about $348,271,000. Bank of Montreal Can acquired a new position in Openlane in the fourth quarter valued at approximately $220,158,000. Dimensional Fund Advisors LP acquired a new position in Openlane in the fourth quarter valued at approximately $200,309,000. State Street Corp bought a new position in shares of Openlane during the fourth quarter valued at approximately $127,581,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Openlane during the 4th quarter worth approximately $103,876,000. Institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OPLN shares. Bank of America raised their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Openlane in a research note on Thursday, June 11th. Northcoast Research set a $40.00 target price on Openlane in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and raised their target price for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Openlane Trading Up 0.3%

OPLN opened at $40.54 on Friday. The company’s 50 day simple moving average is $38.92. The company has a market capitalization of $4.30 billion, a PE ratio of -39.75, a PEG ratio of 2.25 and a beta of 1.26. 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 twelve month low of $24.10 and a twelve month high of $42.90.

Openlane (NYSE:OPLN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $0.31 earnings per share. The business’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. As a group, analysts forecast that Openlane will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tobin P. Richer sold 66,709 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president directly owned 28,697 shares of the company’s stock, valued at approximately $1,026,491.69. This trade represents a 69.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the sale, the executive vice president owned 74,334 shares in the company, valued at approximately $2,665,617.24. This represents a 21.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 111,972 shares of company stock worth $4,018,932. Insiders own 2.22% of the company’s stock.

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.