Horizon Kinetics Asset Management LLC Takes Position in Openlane $OPLN

Horizon Kinetics Asset Management LLC purchased a new stake in Openlane (NYSE:OPLN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 71,548 shares of the company’s stock, valued at approximately $2,131,000. Horizon Kinetics Asset Management LLC owned approximately 0.07% of Openlane as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new position in shares of Openlane in the fourth quarter worth $26,000. First Horizon Corp bought a new position in shares of Openlane in the fourth quarter worth $27,000. Allworth Financial LP bought a new position in shares of Openlane in the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. purchased a new position in Openlane during the fourth quarter worth about $39,000. Finally, Fifth Third Bancorp bought a new position in Openlane in the 4th quarter worth about $40,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $36.04, for a total value of $234,260.00. Following the completion of the transaction, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. This represents a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James P. Coyle sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,972 shares of company stock valued at $4,018,932 over the last quarter. 2.22% of the stock is owned by company insiders.

Openlane Stock Up 2.0%

Shares of NYSE OPLN opened at $37.18 on Wednesday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -36.45, a P/E/G ratio of 1.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day simple moving average of $33.57. Openlane has a twelve month low of $22.09 and a twelve month high of $38.82.

Openlane (NYSE:OPLN) last posted 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 firm had revenue of $527.90 million during the quarter. During the same quarter in the previous year, the company posted $0.31 earnings per share. Openlane’s revenue for the quarter 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, research analysts anticipate that Openlane will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OPLN shares. Northcoast Research set a $40.00 target price on Openlane in a research note on Wednesday, May 6th. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays upped their target price on Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on Openlane in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.