Openlane (NYSE:OPLN – Get Free Report) posted its earnings results on Tuesday. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05, FiscalAI reports. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $554.60 million for the quarter. Openlane’s revenue was up 15.1% compared to the same quarter last year. Openlane updated its FY 2026 guidance to 1.400-1.500 EPS.
Openlane Trading Down 1.4%
Shares of Openlane stock traded down $0.59 on Tuesday, hitting $40.58. The stock had a trading volume of 250,313 shares, compared to its average volume of 940,783. The firm has a market cap of $4.30 billion, a PE ratio of -39.92, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a 52-week low of $24.23 and a 52-week high of $42.90. The business has a 50 day moving average price of $39.12.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on OPLN shares. Northcoast Research set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Barclays upped their price target on Openlane from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.
Insider Transactions at Openlane
In other Openlane news, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $536,550.00. Following the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the completion of the sale, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. This represents a 29.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Openlane
A number of institutional investors have recently modified their holdings of OPLN. Oppenheimer Asset Management Inc. purchased a new stake in Openlane in the 2nd quarter valued at $401,000. Handelsbanken Fonder AB grew its position in Openlane by 10.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 31,525 shares of the company’s stock worth $1,300,000 after purchasing an additional 2,900 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Openlane during the 2nd quarter worth $475,000. Versant Capital Management Inc grew its position in Openlane by 94.2% during the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after purchasing an additional 475 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Openlane in the first quarter valued at $159,000. 99.76% of the stock is owned by institutional investors and hedge funds.
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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