Openlane (NYSE:OPLN) EVP Charles Coleman Sells 38,094 Shares of Company Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 38,094 shares of Openlane stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $35.65, for a total value of $1,358,051.10. Following the completion of the transaction, the executive vice president directly owned 74,334 shares of the company’s stock, valued at approximately $2,650,007.10. This represents a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Stock Up 1.2%

Shares of NYSE OPLN traded up $0.42 during midday trading on Monday, hitting $34.77. The company’s stock had a trading volume of 223,200 shares, compared to its average volume of 1,050,777. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -46.99, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35. The business’s fifty day simple moving average is $35.96 and its two-hundred day simple moving average is $34.30. Openlane has a 1 year low of $24.32 and a 1 year high of $42.90.

Openlane (NYSE:OPLN) last announced its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $561.20 million for the quarter. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Openlane will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Openlane

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ethic Inc. increased its position in shares of Openlane by 3.3% during the third quarter. Ethic Inc. now owns 10,196 shares of the company’s stock worth $348,000 after purchasing an additional 328 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Openlane by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after purchasing an additional 353 shares during the period. Illinois Municipal Retirement Fund grew its position in Openlane by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 58,580 shares of the company’s stock worth $1,999,000 after purchasing an additional 377 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Openlane by 61.3% in the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock valued at $36,000 after purchasing an additional 405 shares during the period. Finally, Versant Capital Management Inc increased its stake in Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 475 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Northcoast Research set a $50.00 target price on Openlane in a report on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. Wall Street Zen lowered shares of Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays raised their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Openlane from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Openlane has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Openlane Company Profile

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.