Key Points
- Openlane EVP Tobin Richer sold 4,000 shares on May 8 at an average price of $38.31, reducing his holdings by 13.94% and generating about $153,240.
- The company reported stronger-than-expected quarterly results, posting EPS of $0.35 versus the $0.32 consensus estimate, with revenue up 14.8% year over year to $527.9 million.
- Wall Street sentiment is mixed but slightly positive, with a consensus rating of “Moderate Buy” and an average price target of $38.00, while recent analyst targets cluster around $37 to $40.
Openlane (NYSE:OPLN - Get Free Report) EVP Tobin Richer sold 4,000 shares of the firm'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 sale, the executive vice president owned 24,697 shares of the company's stock, valued at $946,142.07. This trade represents a 13.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Openlane Trading Down 2.3%
OPLN stock opened at $37.03 on Tuesday. The stock has a market cap of $3.92 billion, a PE ratio of -36.30 and a beta of 1.22. Openlane has a 12 month low of $21.84 and a 12 month high of $38.52. The business's 50-day moving average price is $29.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16.
Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million during the quarter. During the same period in the previous year, the business earned $0.31 EPS. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts forecast that Openlane will post 1.34 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on OPLN shares. Wall Street Zen upgraded Openlane from a "hold" rating to a "buy" rating in a report on Saturday. Stephens increased their target price on Openlane from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. Weiss Ratings downgraded Openlane from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, March 3rd. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Finally, Northcoast Research set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.00.
Check Out Our Latest Research Report on OPLN
Hedge Funds Weigh In On Openlane
Several institutional investors have recently made changes to their positions in OPLN. Salomon & Ludwin LLC bought a new stake in shares of Openlane in the fourth quarter valued at about $26,000. First Horizon Corp purchased a new stake in Openlane in the fourth quarter worth about $27,000. Allworth Financial LP bought a new position in Openlane during the 4th quarter worth about $38,000. Nomura Asset Management Co. Ltd. bought a new position in Openlane during the 4th quarter worth about $39,000. Finally, Fifth Third Bancorp purchased a new position in Openlane during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 99.76% of the company's stock.
About Openlane
(
Get Free Report)
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.
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