Openlane (NYSE:OPLN - Get Free Report) EVP Tobin Richer sold 3,458 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $35.44, for a total transaction of $122,551.52. Following the transaction, the executive vice president owned 24,697 shares in the company, valued at approximately $875,261.68. The trade was a 12.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Openlane Stock Down 0.9%
NYSE OPLN opened at $34.73 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50-day simple moving average of $35.95 and a 200 day simple moving average of $34.39. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The stock has a market cap of $4.22 billion, a PE ratio of 24.50, a PEG ratio of 1.56 and a beta of 1.35.
Openlane (NYSE:OPLN - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The business had revenue of $561.20 million for the quarter. Openlane's revenue was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Openlane will post 1.49 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC lifted its stake in Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company's stock worth $36,000 after purchasing an additional 405 shares during the period. Versant Capital Management Inc boosted its holdings in Openlane by 94.2% during 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 in the last quarter. Nykredit A S bought a new stake in shares of Openlane in the 2nd quarter valued at approximately $46,000. Allworth Financial LP bought a new stake in shares of Openlane in the 2nd quarter valued at approximately $56,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Openlane in the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 99.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on OPLN. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a research report on Wednesday, August 26th. Wall Street Zen cut 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 Openlane in a research note on Wednesday, August 5th. Barclays upped their target price on Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Zacks Research cut Openlane from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.83.
Get Our Latest Stock Analysis on Openlane
Openlane Company Profile
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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.
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