Lazard Asset Management LLC Has $8.19 Million Position in Openlane $OPLN

Lazard Asset Management LLC boosted its stake in Openlane (NYSE:OPLN) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,078 shares of the company’s stock after acquiring an additional 27,616 shares during the period. Lazard Asset Management LLC owned 0.27% of Openlane worth $8,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Openlane in the fourth quarter valued at about $348,271,000. Bank of Montreal Can purchased a new position in shares of Openlane during the 4th quarter valued at $220,158,000. Dimensional Fund Advisors LP purchased a new position in Openlane in the 4th quarter worth approximately $200,309,000. State Street Corp bought a new stake in Openlane in the 4th quarter worth approximately $127,581,000. Finally, Neuberger Berman Group LLC purchased a new stake in Openlane during the fourth quarter valued at about $103,876,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OPLN. Barclays increased their price objective on Openlane from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Northcoast Research set a $40.00 target price on Openlane in a research note on Wednesday, May 6th. Bank of America lifted their price target on shares of Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Zacks Research raised Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Openlane has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Openlane Trading Up 0.3%

NYSE OPLN opened at $40.54 on Friday. The business has a 50-day moving average of $38.92. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a 12 month low of $24.10 and a 12 month high of $42.90. The company has a market capitalization of $4.30 billion, a PE ratio of -39.75, a PEG ratio of 2.25 and a beta of 1.26.

Openlane (NYSE:OPLN) last released its quarterly earnings data 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 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 quarter in the previous year, the business earned $0.31 earnings per share. The company’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. As a group, sell-side analysts forecast that Openlane will post 1.4 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Tobin P. Richer sold 66,709 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president directly owned 28,697 shares of the company’s stock, valued at approximately $1,026,491.69. This represents a 69.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,665,617.24. The trade was a 21.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is currently owned by insiders.

About Openlane

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.