Insider Selling: Openlane (NYSE:OPLN) EVP Sells 3,458 Shares of Company Stock

Openlane (NYSE:OPLN) EVP Tobin Richer sold 3,458 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $35.44, for a total value of $122,551.52. Following the completion of the sale, the executive vice president owned 24,697 shares of the company’s stock, valued at $875,261.68. This trade represents a 12.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Openlane Stock Down 0.1%

Shares of NYSE:OPLN traded down $0.03 during trading on Thursday, hitting $35.01. 69,220 shares of the company’s stock traded hands, compared to its average volume of 1,047,328. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap 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. The company has a 50-day moving average price of $35.95 and a 200-day moving average price of $34.37.

Openlane (NYSE:OPLN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The business had revenue of $561.20 million during the quarter. The company’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts forecast that Openlane will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Openlane

Hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake in Openlane by 61.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock valued at $36,000 after acquiring an additional 405 shares in the last quarter. Versant Capital Management Inc boosted its position in Openlane by 94.2% during the 2nd 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 shares of Openlane during the 2nd quarter worth approximately $46,000. Allworth Financial LP bought a new position in shares of Openlane during the 2nd quarter worth approximately $56,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Openlane during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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