Openlane (NYSE:OPLN) EVP Sells $1,358,051.10 in Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 38,094 shares of Openlane stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $35.65, for a total transaction of $1,358,051.10. Following the completion of the sale, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,650,007.10. The trade was a 33.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Openlane Trading Down 0.8%

Shares of OPLN stock opened at $34.95 on Thursday. The business’s fifty day moving average price is $35.95 and its 200 day moving average price is $34.37. The firm has a market capitalization of $4.24 billion, a PE ratio of -47.23, a P/E/G ratio of 1.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90.

Openlane (NYSE:OPLN) last issued its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Openlane will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research cut Openlane from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Northcoast Research set a $50.00 target price on Openlane in a research report on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. Finally, Barclays raised 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. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Openlane presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Hedge Funds Weigh In On Openlane

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Openlane in the second quarter worth $660,070,000. Hawk Ridge Capital Management LP lifted its position in shares of Openlane by 72.5% in the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after acquiring an additional 2,087,200 shares in the last quarter. Sunriver Management LLC lifted its position in shares of Openlane by 1.3% in the first quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock valued at $44,255,000 after acquiring an additional 19,634 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Openlane by 7.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company’s stock valued at $36,474,000 after acquiring an additional 86,986 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in shares of Openlane during the second quarter valued at $46,368,000. 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.