State of Wyoming Buys New Position in Openlane $OPLN

State of Wyoming purchased a new position in shares of Openlane (NYSE:OPLN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 42,443 shares of the company’s stock, valued at approximately $1,750,000.

Other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Openlane in the fourth quarter valued at approximately $26,000. First Horizon Corp acquired a new position in shares of Openlane in the 4th quarter valued at $27,000. Allworth Financial LP acquired a new position in shares of Openlane in the 4th quarter valued at $38,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Openlane in the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp purchased a new stake in Openlane in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

OPLN has been the subject of a number of recent research reports. Zacks Research upgraded shares of Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Northcoast Research set a $50.00 price objective on shares of Openlane in a research note on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and upped their target price for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Barclays increased their target price on shares of Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Openlane Price Performance

Openlane stock opened at $35.49 on Friday. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50 day simple moving average of $39.08 and a 200-day simple moving average of $33.80. The stock has a market capitalization of $4.36 billion, a PE ratio of -41.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The firm had revenue of $554.60 million for the quarter. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities analysts predict that Openlane will post 1.45 earnings per share for the current year.

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.