Key Points
- Openlane EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his stake by 62.29%. The sale was to cover tax withholding on vested equity awards.
- Openlane reported quarterly EPS of $0.43, beating the $0.39 consensus, while revenue rose 12.6% year over year to $561.2 million.
- Analysts’ average rating is “Moderate Buy,” with an average price target of $43.83.
Openlane (NYSE:OPLN - Get Free Report) EVP Charles Coleman sold 38,094 shares of the company's stock in a transaction that occurred on 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 owned 74,334 shares in the company, valued at approximately $2,650,007.10. The trade was a 33.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Openlane Price Performance
Shares of NYSE OPLN opened at $34.87 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $35.96 and a two-hundred day simple moving average of $34.32. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -47.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.35.
Openlane (NYSE:OPLN - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $561.20 million for the quarter. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The business's revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that Openlane will post 1.49 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of OPLN. BlackRock Inc. bought a new stake in Openlane during the 2nd quarter valued at $660,070,000. Hawk Ridge Capital Management LP lifted its position in shares of Openlane by 72.5% during the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company's stock worth $144,792,000 after acquiring an additional 2,087,200 shares in the last quarter. Sunriver Management LLC lifted its position in shares of Openlane by 1.3% during the first quarter. Sunriver Management LLC now owns 1,518,196 shares of the company's stock worth $44,255,000 after acquiring an additional 19,634 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Openlane by 7.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company's stock worth $36,474,000 after acquiring an additional 86,986 shares in the last quarter. Finally, Park West Asset Management LLC bought a new position in shares of Openlane in the second quarter worth $46,368,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.
Openlane News Roundup
Here are the key news stories impacting Openlane this week:
- Positive Sentiment: A recent article highlights raised earnings guidance as a potential reason to reassess OPENLANE’s investment outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus estimate, and revenue growth of 12.6% year over year. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
- Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct ownership by 62.29%. The filing says the sale was to cover tax withholding obligations tied to vested equity awards, which makes it less clearly a negative signal about the business. Openlane Stock: Insider James Coyle Sells 80,755 Shares
- Negative Sentiment: EVP Charles Coleman also reported selling 38,094 shares for about $1.36 million, a reduction of roughly one-third of his position. Insider sales can weigh on investor sentiment, although the reports do not give a reason for this sale. Openlane insider transaction report
Analyst Ratings Changes
Several brokerages recently weighed in on OPLN. Zacks Research lowered Openlane from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Weiss Ratings restated a "hold (c)" rating on shares of Openlane in a research note on Wednesday, August 26th. Barclays upped their price objective on shares of Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Northcoast Research set a $50.00 target price on shares of Openlane in a research report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Openlane from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Openlane presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.
Get Our Latest Stock Analysis on Openlane
About Openlane
(
Get Free Report)
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.
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