Openlane (NYSE:OPLN) Stock: Insider James Coyle Sells 80,755 Shares

Openlane (NYSE:OPLN) EVP James Coyle sold 80,755 shares of Openlane stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $35.21, for a total transaction of $2,843,383.55. Following the transaction, the executive vice president owned 48,884 shares of the company’s stock, valued at $1,721,205.64. This represents a 62.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Openlane Trading Up 0.9%

NYSE:OPLN opened at $35.21 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50-day moving average of $35.95 and a 200-day moving average of $34.34. The company has a market cap of $4.28 billion, a PE ratio of 24.41, a PEG ratio of 1.56 and a beta of 1.35. Openlane has a one year low of $24.32 and a one year high of $42.90.

Openlane (NYSE:OPLN) last posted its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The company had revenue of $561.20 million for the quarter. The business’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Openlane will post 1.49 EPS for the current fiscal year.

Openlane News Roundup

Here are the key news stories impacting Openlane this week:

• Positive Sentiment: A recent investor article points to raised earnings guidance as a reason to reassess OPENLANE’s outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus, and revenue growth of 12.6% year over year—supportive signals for the business. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
• Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct stake by 62.29%. The filing says the sale covered tax withholding obligations on vested equity awards, making it less clearly a bearish signal about the company’s prospects. Openlane EVP James Coyle Sells Shares
• Negative Sentiment: EVP Charles Coleman sold 38,094 shares for about $1.36 million, reducing his position by roughly 34%; the report did not give a reason. A separate filing reported a sale of 402 shares for about $14,500. Insider selling may weigh on sentiment, though Coleman retained 74,334 shares after the larger sale. Openlane Insider Sold Shares According to SEC Filing

Wall Street Analyst Weigh In

Several brokerages have recently commented on OPLN. Wall Street Zen downgraded Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research cut Openlane from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday, August 5th. Barclays increased their price target on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Openlane has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Hedge Funds Weigh In On Openlane

A number of hedge funds and other institutional investors have recently modified their holdings of OPLN. Boston Partners bought a new stake in Openlane during the third quarter worth $12,058,000. Public Sector Pension Investment Board increased its position in shares of Openlane by 0.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 571,163 shares of the company’s stock valued at $21,347,000 after purchasing an additional 1,616 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Openlane during the 3rd quarter worth $4,067,000. Intech Investment Management LLC boosted its holdings in shares of Openlane by 73.9% in the 3rd quarter. Intech Investment Management LLC now owns 35,037 shares of the company’s stock worth $1,196,000 after buying an additional 14,886 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Openlane by 25.8% in the 3rd quarter. Bessemer Group Inc. now owns 651,108 shares of the company’s stock worth $22,223,000 after buying an additional 133,343 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Openlane

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels. The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.