Openlane (NYSE:OPLN – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $39.52 and last traded at $39.50, with a volume of 66133 shares. The stock had previously closed at $38.50.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Robert W. Baird set a $40.00 target price on shares of Openlane in a report on Wednesday, May 6th. Barclays upped their target price on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.
Check Out Our Latest Stock Report on Openlane
Openlane Stock Performance
Openlane (NYSE:OPLN – Get Free Report) last issued 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. The business had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities analysts forecast that Openlane will post 1.31 EPS for the current fiscal year.
Insider Buying and Selling at Openlane
In related news, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the sale, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,665,617.24. This represents a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider owned 15,914 shares of the company’s stock, valued at $573,540.56. This trade represents a 29.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in OPLN. Vanguard Group Inc. purchased a new position in Openlane in the fourth quarter worth about $348,271,000. Bank of Montreal Can bought a new stake in shares of Openlane in the 4th quarter valued at approximately $220,158,000. Dimensional Fund Advisors LP bought a new stake in shares of Openlane in the 4th quarter valued at approximately $200,309,000. State Street Corp purchased a new position in shares of Openlane in the 4th quarter worth approximately $127,581,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Openlane in the 4th quarter worth approximately $103,876,000. Institutional investors own 99.76% of the company’s stock.
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.
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