Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 1,207 Shares

Openlane (NYSE:OPLN) EVP Charles Coleman sold 1,207 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.01, for a total value of $42,257.07. Following the completion of the transaction, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,602,433.34. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Openlane Stock Down 0.1%

NYSE OPLN traded down $0.03 during trading hours on Thursday, reaching $35.01. 73,732 shares of the company’s stock were exchanged, compared to its average volume of 1,047,328. The company’s 50-day moving average is $35.95 and its two-hundred day moving average is $34.37. Openlane has a one year low of $24.32 and a one year high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -47.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.35.

Openlane (NYSE:OPLN) last announced its earnings results on Wednesday, November 4th. The company reported $0.43 EPS 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 firm had revenue of $561.20 million for the quarter. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Openlane will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Openlane

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Openlane during the 2nd quarter worth approximately $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 worth $144,792,000 after purchasing an additional 2,087,200 shares in the last quarter. Park West Asset Management LLC bought a new stake in shares of Openlane in the second quarter worth $46,368,000. Sunriver Management LLC boosted its holdings in Openlane by 1.3% during the first quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock worth $44,255,000 after purchasing an additional 19,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Openlane by 7.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company’s stock worth $36,474,000 after purchasing an additional 86,986 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.