Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 402 Shares

Openlane (NYSE:OPLN) EVP Charles Coleman sold 402 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $36.06, for a total transaction of $14,496.12. Following the completion of the sale, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,680,484.04. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Openlane Trading Up 1.2%

Openlane stock traded up $0.42 during trading hours on Monday, reaching $34.77. The stock had a trading volume of 223,200 shares, compared to its average volume of 1,050,777. The company has a fifty day simple moving average of $35.96 and a 200-day simple moving average of $34.30. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The stock has a market cap of $4.22 billion, a PE ratio of -46.99, a PEG ratio of 1.53 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 (NYSE:OPLN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $561.20 million during the quarter. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts forecast that Openlane will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on OPLN. Northcoast Research set a $50.00 price objective on Openlane in a report on Wednesday, August 5th. Barclays boosted their target price on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Zacks Research downgraded Openlane from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Finally, Wall Street Zen cut shares of Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OPLN. BlackRock Inc. purchased a new position in shares of Openlane in the 2nd quarter valued at approximately $660,070,000. Hawk Ridge Capital Management LP boosted its holdings in shares of Openlane by 72.5% during the 1st 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 in the last quarter. Park West Asset Management LLC purchased a new stake in shares of Openlane in the 2nd quarter worth about $46,368,000. Bank of New York Mellon Corp purchased a new stake in shares of Openlane in the 2nd quarter worth about $32,668,000. Finally, Kimelman & Baird LLC bought a new position in shares of Openlane in the 2nd quarter worth about $31,447,000. 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.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.