Openlane $OPLN Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC reduced its holdings in Openlane (NYSE:OPLN) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 609,863 shares of the company’s stock after selling 152,672 shares during the period. Openlane makes up about 1.5% of Kimelman & Baird LLC’s investment portfolio, making the stock its 25th largest position. Kimelman & Baird LLC owned about 0.50% of Openlane worth $20,815,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OPLN. Salomon & Ludwin LLC boosted its position in shares of Openlane by 61.3% in the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock valued at $36,000 after acquiring an additional 405 shares during the period. Versant Capital Management Inc grew its stake in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after acquiring an additional 475 shares during the last quarter. Nykredit A S bought a new position in Openlane during the second quarter worth $46,000. Allworth Financial LP bought a new position in Openlane during the second quarter worth $56,000. Finally, Rockefeller Capital Management L.P. bought a new position in Openlane during the fourth quarter worth $72,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Openlane Stock Performance

NYSE:OPLN opened at $34.30 on Friday. The firm has a market capitalization of $4.16 billion, a PE ratio of -46.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a quick ratio of 1.17, a current ratio of 1.16 and a debt-to-equity ratio of 0.34. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The firm has a 50-day moving average price of $35.96 and a 200 day moving average price of $34.30.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The company had revenue of $561.20 million for the quarter. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts anticipate that Openlane will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Openlane

In related news, CEO Peter Kelly bought 14,830 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the transaction, the chief executive officer directly owned 14,830 shares of the company’s stock, valued at $500,067.60. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Openlane Profile

OPENLANE, Inc (NYSE: OPLN) operates a digital marketplace and technology platform for the wholesale vehicle industry. The company helps automotive dealers, manufacturers, fleet operators, rental companies and financial institutions buy and sell used vehicles through online and physical auction channels.

Its services include wholesale vehicle auctions, vehicle inspection and condition reporting, transportation and logistics, financing support, title and documentation services, and other tools designed to simplify the remarketing process.