Legal & General Group Plc Takes Position in Openlane $OPLN

Legal & General Group Plc purchased a new stake in Openlane (NYSE:OPLN) during the second quarter, according to its most recent filing with the SEC. The firm purchased 248,167 shares of the company’s stock, valued at approximately $10,234,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC acquired a new position in Openlane during the fourth quarter valued at approximately $320,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Openlane in the fourth quarter worth $472,000. Arizona State Retirement System bought a new position in shares of Openlane during the fourth quarter worth $880,000. Vanguard Group Inc. bought a new position in shares of Openlane during the fourth quarter worth $348,271,000. Finally, UBS Group AG acquired a new position in shares of Openlane in the 4th quarter valued at $2,582,000. Institutional investors own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on OPLN shares. Zacks Research raised Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $38.00 in a report on Wednesday, May 27th. Barclays raised their price target on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane Trading Up 1.5%

OPLN opened at $35.62 on Tuesday. The stock has a market capitalization of $4.37 billion, a P/E ratio of -41.91, a P/E/G ratio of 2.16 and a beta of 1.28. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90. The firm’s fifty day simple moving average is $38.36 and its 200 day simple moving average is $34.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last announced its earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $554.60 million during the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The firm’s revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, research analysts anticipate that Openlane will post 1.45 EPS for the current fiscal year.

Insider Activity at Openlane

In other news, CEO Peter J. Kelly acquired 14,830 shares of Openlane stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $33.72 per share, with a total value of $500,067.60. Following the completion of the transaction, the chief executive officer directly owned 14,830 shares of the company’s stock, valued at approximately $500,067.60. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.22% of the stock is currently owned by company insiders.

Openlane 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.