First Trust Advisors LP Acquires 12,555 Shares of Openlane $OPLN

First Trust Advisors LP increased its holdings in Openlane (NYSE:OPLN) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,642 shares of the company’s stock after acquiring an additional 12,555 shares during the quarter. First Trust Advisors LP owned about 0.38% of Openlane worth $11,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Openlane during the fourth quarter valued at approximately $348,271,000. Bank of Montreal Can bought a new stake in shares of Openlane in the 4th quarter worth approximately $220,158,000. Dimensional Fund Advisors LP bought a new stake in shares of Openlane in the 4th quarter worth approximately $200,309,000. State Street Corp purchased a new stake in shares of Openlane in the 4th quarter worth approximately $127,581,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Openlane in the 4th quarter worth approximately $103,876,000. 99.76% of the stock is currently owned by institutional investors.

Insider Activity at Openlane

In other Openlane news, EVP James P. Coyle sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the sale, the executive vice president directly owned 58,512 shares in the company, valued at approximately $2,092,974.24. The trade was a 20.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tobin P. Richer sold 4,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.31, for a total value of $153,240.00. Following the transaction, the executive vice president directly owned 24,697 shares in the company, valued at $946,142.07. The trade was a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% of the company’s stock.

Openlane Stock Performance

OPLN opened at $40.54 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The company has a market cap of $4.30 billion, a PE ratio of -39.75, a P/E/G ratio of 2.25 and a beta of 1.26. The company’s 50-day moving average is $38.92. Openlane has a 52-week low of $24.10 and a 52-week high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts forecast that Openlane will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

OPLN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Northcoast Research set a $40.00 target price on Openlane in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 price target on Openlane in a report on Wednesday, May 6th. Barclays raised 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, Bank of America lifted their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Openlane Company Profile

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.