Lone Peak Global Investors LLC Sells 188,323 Shares of Openlane $OPLN

Lone Peak Global Investors LLC cut its holdings in shares of Openlane (NYSE:OPLN) by 22.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,706 shares of the company’s stock after selling 188,323 shares during the period. Openlane comprises about 3.8% of Lone Peak Global Investors LLC’s portfolio, making the stock its 7th biggest position. Lone Peak Global Investors LLC owned about 0.54% of Openlane worth $27,577,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OPLN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Openlane in the 4th quarter valued at approximately $472,000. Arizona State Retirement System acquired a new position in shares of Openlane during the fourth quarter worth about $880,000. Vanguard Group Inc. purchased a new stake in shares of Openlane during the fourth quarter worth approximately $348,271,000. UBS Group AG purchased a new position in Openlane in the fourth quarter worth approximately $2,582,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Openlane in the 4th quarter valued at approximately $433,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Barclays boosted their price objective 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. Bank of America boosted their price target on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Northcoast Research set a $50.00 target price on Openlane in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.83.

Insider Transactions at Openlane

In other Openlane news, CEO Peter J. Kelly bought 14,830 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $33.72 per share, with a total value of $500,067.60. Following the purchase, the chief executive officer owned 14,830 shares in the company, valued at approximately $500,067.60. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.22% of the company’s stock.

Openlane Price Performance

Shares of NYSE OPLN opened at $35.03 on Wednesday. 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 company has a market cap of $4.30 billion, a PE ratio of -41.21, a P/E/G ratio of 2.19 and a beta of 1.26. The stock has a fifty day moving average price of $38.29 and a 200 day moving average price of $34.25. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90.

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

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.