Openlane $OPLN Shares Purchased by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP boosted its stake in shares of Openlane (NYSE:OPLN) by 72.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,967,144 shares of the company’s stock after acquiring an additional 2,087,200 shares during the period. Openlane accounts for approximately 5.3% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 4th biggest position. Hawk Ridge Capital Management LP’s holdings in Openlane were worth $144,792,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in shares of Openlane during the fourth quarter worth approximately $2,152,000. Comerica Bank acquired a new stake in Openlane in the fourth quarter valued at approximately $951,000. Nicholas Company Inc. purchased a new position in Openlane in the fourth quarter worth approximately $6,380,000. Paradice Investment Management LLC purchased a new stake in shares of Openlane in the 4th quarter valued at approximately $23,837,000. Finally, Strs Ohio acquired a new stake in shares of Openlane in the 4th quarter valued at $1,072,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analysts Set New Price Targets

OPLN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised 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 report on Wednesday, May 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a research note on Thursday, June 11th. Robert W. Baird set a $40.00 price target on Openlane in a report on Wednesday, May 6th. Finally, Northcoast Research set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Insider Transactions at Openlane

In other news, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $536,550.00. Following the sale, the executive vice president owned 58,512 shares in the company, valued at approximately $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tobin P. Richer sold 66,709 shares of Openlane stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $2,386,180.93. Following the sale, the executive vice president owned 28,697 shares in the company, valued at $1,026,491.69. This trade represents a 69.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is owned by company insiders.

Openlane Price Performance

NYSE OPLN opened at $40.07 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a fifty day moving average of $38.59. The stock has a market cap of $4.25 billion, a P/E ratio of -39.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26. Openlane has a 12 month low of $24.10 and a 12 month high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm had revenue of $527.90 million for the quarter. During the same quarter in the prior year, the business earned $0.31 earnings per share. Openlane’s revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, sell-side analysts forecast that Openlane will post 1.31 earnings per share for the current year.

Openlane 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.