UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Openlane $OPLN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Openlane (NYSE:OPLN) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 321,323 shares of the company’s stock after acquiring an additional 24,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Openlane were worth $13,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Openlane by 94.2% during the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after buying an additional 475 shares in the last quarter. Allworth Financial LP bought a new stake in Openlane in the 4th quarter valued at $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in Openlane in the 4th quarter worth $39,000. Fifth Third Bancorp bought a new position in shares of Openlane during the 4th quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Openlane during the fourth quarter valued at about $42,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Trading Up 1.7%

NYSE OPLN opened at $35.50 on Friday. Openlane has a 1 year low of $24.32 and a 1 year 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 company has a market capitalization of $4.36 billion, a PE ratio of -41.76, a P/E/G ratio of 2.18 and a beta of 1.26. The company has a fifty day moving average of $37.97 and a 200 day moving average of $34.35.

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

Insider Buying and Selling at Openlane

In other news, CEO Peter Kelly bought 14,830 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $33.72 per share, for a total transaction of $500,067.60. Following the purchase, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and increased their price target for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Stephens restated an “overweight” rating and set a $42.00 target price 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 Wednesday, August 26th. Zacks Research raised Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, Northcoast Research set a $50.00 target price on Openlane in a research report on Wednesday, August 5th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane 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.