Lazard Asset Management LLC Grows Position in Openlane $OPLN

Lazard Asset Management LLC raised its position in Openlane (NYSE:OPLN) by 10.9% in the first quarter, Holdings Channel reports. The institutional investor owned 281,078 shares of the company’s stock after purchasing an additional 27,616 shares during the period. Lazard Asset Management LLC’s holdings in Openlane were worth $8,193,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OPLN. Salomon & Ludwin LLC acquired a new position in shares of Openlane during the fourth quarter valued at approximately $26,000. First Horizon Corp purchased a new position in shares of Openlane in the fourth quarter valued at approximately $27,000. Allworth Financial LP acquired a new position in Openlane during the 4th quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new position in Openlane during the 4th quarter worth approximately $39,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane during the 4th quarter worth about $40,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Openlane

In other Openlane news, EVP Tobin P. Richer sold 66,709 shares of the firm’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 $2,386,180.93. Following the completion of the transaction, the executive vice president directly owned 28,697 shares of the company’s stock, valued at $1,026,491.69. This trade represents a 69.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Clyde Mitchell sold 6,500 shares of the company’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 sale, the insider owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is owned by insiders.

Openlane Price Performance

Shares of OPLN opened at $40.54 on Friday. The firm has a market capitalization of $4.30 billion, a PE ratio of -39.75, a PEG ratio of 2.25 and a beta of 1.26. Openlane has a 12 month low of $24.10 and a 12 month high of $42.90. The stock’s 50-day moving average is $38.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million for the quarter. During the same quarter in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts anticipate that Openlane will post 1.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on OPLN. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a research report on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. Barclays boosted their price target on Openlane from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.67.

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.