Gabelli Funds LLC Acquires Shares of 249,962 Openlane $OPLN

Gabelli Funds LLC acquired a new stake in Openlane (NYSE:OPLN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 249,962 shares of the company’s stock, valued at approximately $7,444,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OPLN. Salomon & Ludwin LLC bought a new stake in Openlane in the fourth quarter valued at approximately $26,000. First Horizon Corp bought a new stake in Openlane in the fourth quarter valued at approximately $27,000. Allworth Financial LP bought a new stake in Openlane in the fourth quarter valued at approximately $38,000. Fifth Third Bancorp bought a new stake in Openlane in the fourth quarter valued at approximately $40,000. Finally, North Star Investment Management Corp. bought a new stake in Openlane in the fourth quarter valued at approximately $47,000. Institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling

In other news, EVP James P. Coyle sold 15,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the sale, the executive vice president directly owned 58,512 shares of the company’s stock, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction on 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 sale, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 200,416 shares of company stock valued at $6,568,773. Insiders own 2.22% of the company’s stock.

Openlane Stock Up 2.4%

Shares of Openlane stock opened at $35.24 on Thursday. 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 company has a market capitalization of $3.73 billion, a P/E ratio of -34.54, a PEG ratio of 1.78 and a beta of 1.22. The company’s 50 day simple moving average is $30.93. Openlane has a 52 week low of $21.84 and a 52 week high of $38.52.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.Openlane’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts anticipate that Openlane will post 1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OPLN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Openlane from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Stephens boosted their price objective on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. Barclays boosted their price objective on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

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.