William Clyde Mitchell Sells 6,500 Shares of Openlane (NYSE:OPLN) Stock

Openlane (NYSE:OPLN) insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $36.04, for a total transaction of $234,260.00. Following the completion of the sale, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Openlane Stock Down 2.4%

Shares of Openlane stock opened at $34.89 on Friday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -34.21, a PEG ratio of 1.80 and a beta of 1.22. Openlane has a 12-month low of $21.84 and a 12-month high of $38.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day moving average price of $30.55.

Openlane (NYSE:OPLN) last announced its quarterly earnings results 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. The business had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. Openlane’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, sell-side analysts expect that Openlane will post 1.3 earnings per share for the current fiscal year.

Institutional Trading of Openlane

A number of hedge funds have recently made changes to their positions in OPLN. Yousif Capital Management LLC bought a new stake in shares of Openlane in the 4th quarter worth approximately $857,000. Smith Moore & CO. bought a new stake in shares of Openlane in the 4th quarter worth approximately $448,000. State of Alaska Department of Revenue bought a new stake in shares of Openlane in the 4th quarter worth approximately $2,211,000. Guidance Capital Inc. bought a new stake in shares of Openlane in the 4th quarter worth approximately $770,000. Finally, CWM LLC bought a new stake in shares of Openlane in the 4th quarter worth approximately $320,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating 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. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Finally, Stephens lifted their target price on shares of Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.