Intrinsic Edge Capital Management LLC Sells 147,800 Shares of Openlane $OPLN

Intrinsic Edge Capital Management LLC trimmed its stake in shares of Openlane (NYSE:OPLN) by 33.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,031 shares of the company’s stock after selling 147,800 shares during the period. Openlane makes up about 1.4% of Intrinsic Edge Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Intrinsic Edge Capital Management LLC’s holdings in Openlane were worth $8,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Salomon & Ludwin LLC acquired a new stake in shares of Openlane in the fourth quarter valued at approximately $26,000. First Horizon Corp acquired a new position in Openlane during the 4th quarter worth $27,000. Allworth Financial LP acquired a new position in Openlane during the 4th quarter worth $38,000. Nomura Asset Management Co. Ltd. bought a new position in Openlane in the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp bought a new position in Openlane in the 4th quarter valued at $40,000. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Barclays raised their price target on Openlane from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Northcoast Research set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $33.00 to $38.00 in a report on Wednesday, May 27th. Finally, Bank of America upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Openlane has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Openlane Stock Performance

OPLN opened at $40.33 on Thursday. The stock’s fifty day simple moving average is $38.81. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -39.54, a PEG ratio of 2.24 and a beta of 1.26. Openlane has a 52 week low of $24.10 and a 52 week high of $42.90. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company had revenue of $527.90 million for the quarter. During the same period last year, the company earned $0.31 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities analysts forecast that Openlane will post 1.4 EPS for the current year.

Insider Buying and Selling

In other news, EVP Tobin P. Richer sold 4,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the completion of the transaction, the executive vice president directly owned 24,697 shares in the company, valued at approximately $946,142.07. The trade was a 13.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total value of $708,701.18. Following the completion of the sale, the executive vice president directly owned 74,334 shares of the company’s stock, valued at approximately $2,665,617.24. This trade represents a 21.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% 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.