Manatuck Hill Partners LLC Invests $10.31 Million in Openlane $OPLN

Manatuck Hill Partners LLC purchased a new stake in shares of Openlane (NYSE:OPLN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 250,000 shares of the company’s stock, valued at approximately $10,310,000. Openlane makes up approximately 3.4% of Manatuck Hill Partners LLC’s portfolio, making the stock its 4th biggest position.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Openlane during the 2nd quarter valued at about $660,070,000. Vanguard Group Inc. purchased a new position in Openlane in the fourth quarter worth about $348,271,000. Bank of Montreal Can bought a new position in shares of Openlane in the fourth quarter worth approximately $220,158,000. Dimensional Fund Advisors LP bought a new position in shares of Openlane in the fourth quarter worth approximately $200,309,000. Finally, Hawk Ridge Capital Management LP grew its holdings in shares of Openlane by 72.5% during 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 buying an additional 2,087,200 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Openlane Stock Up 0.9%

Shares of Openlane stock opened at $34.36 on Wednesday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -40.43, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28. The company’s 50 day moving average is $38.58 and its 200 day moving average is $34.04. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last posted its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The business had revenue of $554.60 million during the quarter. 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. Research analysts anticipate that Openlane will post 1.45 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OPLN. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Bank of America lifted their target price on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Northcoast Research set a $50.00 price target on Openlane in a research note on Wednesday, August 5th. Finally, Robert W. Baird set a $40.00 price target on Openlane in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.83.

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.