UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Openlane $OPLN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Openlane (NYSE:OPLN) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,323 shares of the company’s stock after purchasing an additional 24,578 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of Openlane worth $13,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in OPLN. BlackRock Inc. purchased a new position in Openlane during the second quarter worth about $660,070,000. Bank of Montreal Can purchased a new position in Openlane in the 4th quarter worth approximately $220,158,000. Dimensional Fund Advisors LP bought a new position in shares of Openlane in the 4th quarter worth $200,309,000. State Street Corp purchased a new stake in shares of Openlane during the 4th quarter valued at $127,581,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Openlane during the 4th quarter worth $103,876,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Openlane Trading Up 1.7%

NYSE OPLN opened at $35.50 on Friday. The firm has a market capitalization of $4.36 billion, a PE ratio of -41.76, a P/E/G ratio of 2.18 and a beta of 1.26. The stock’s 50 day moving average is $37.97 and its 200 day moving average is $34.35. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Research analysts forecast that Openlane will post 1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Openlane

In related news, CEO Peter Kelly purchased 14,830 shares of the business’s stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the acquisition, the chief executive officer owned 14,830 shares of the company’s stock, valued at approximately $500,067.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OPLN has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Bank of America boosted their price target on Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Northcoast Research set a $50.00 price objective on Openlane in a research report on Wednesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.83.

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.