Peter Kelly Purchases 14,830 Shares of Openlane (NYSE:OPLN) Stock

Openlane (NYSE:OPLN) CEO Peter Kelly acquired 14,830 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the acquisition, the chief executive officer owned 14,830 shares in the company, valued at approximately $500,067.60. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Openlane Stock Up 2.3%

Openlane stock opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -41.70, a PEG ratio of 2.13 and a beta of 1.28. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90. The business has a fifty day moving average price of $38.48 and a 200-day moving average price of $34.13.

Openlane (NYSE:OPLN) last announced its earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The company had revenue of $554.60 million for the quarter. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities research analysts forecast that Openlane will post 1.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OPLN. Wall Street Zen lowered shares of Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America upped their price target on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Institutional Investors Weigh In On Openlane

A number of large investors have recently bought and sold shares of OPLN. Hawk Ridge Capital Management LP lifted its stake in 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 acquiring an additional 2,087,200 shares during the period. Ranger Investment Management L.P. acquired a new stake in shares of Openlane in the second quarter worth $18,146,000. Nicholas Company Inc. purchased a new position in shares of Openlane during the fourth quarter worth $6,380,000. New York State Teachers Retirement System purchased a new position in shares of Openlane during the fourth quarter worth $2,152,000. Finally, Comerica Bank acquired a new position in Openlane during the fourth quarter valued at $951,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Openlane Company Profile

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.