49,060 Shares in Openlane $OPLN Bought by Jupiter Topco LLC

Jupiter Topco LLC bought a new position in shares of Openlane (NYSE:OPLN) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 49,060 shares of the company’s stock, valued at approximately $2,023,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Hawk Ridge Capital Management LP raised its position in Openlane by 72.5% in 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 buying an additional 2,087,200 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in Openlane in the 2nd quarter valued at approximately $18,146,000. Nicholas Company Inc. acquired a new position in Openlane during the 4th quarter worth approximately $6,380,000. Comerica Bank acquired a new position in Openlane during the 4th quarter worth approximately $951,000. Finally, New York State Teachers Retirement System acquired a new position in Openlane during the 4th quarter worth approximately $2,152,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on OPLN. Bank of America lifted their price objective on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $38.00 in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Northcoast Research set a $50.00 target price on shares of Openlane in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane Stock Performance

Shares of NYSE OPLN opened at $34.87 on Friday. The stock has a 50 day moving average price of $38.10 and a 200 day moving average price of $34.35. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $4.28 billion, a PE ratio of -41.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26.

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

Insider Activity at Openlane

In related news, CEO Peter Kelly acquired 14,830 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was bought 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 $500,067.60. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.22% of the company’s stock.

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.