Openlane (NYSE:OPLN) EVP Charles Coleman Sells 402 Shares of Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 402 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $36.06, for a total transaction of $14,496.12. Following the transaction, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,680,484.04. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Stock Up 1.5%

Shares of OPLN opened at $34.87 on Tuesday. The firm has a market cap of $4.28 billion, a PE ratio of -47.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.35. The company’s fifty day moving average is $35.96 and its two-hundred day moving average is $34.32. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a quick ratio of 1.17, a current ratio of 1.16 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $561.20 million during the quarter. Openlane had a net margin of 9.23% and a return on equity of 12.74%. Openlane’s revenue was up 12.6% on a year-over-year basis. Analysts forecast that Openlane will post 1.49 earnings per share for the current year.

Institutional Trading of Openlane

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Openlane in the 2nd quarter valued at $660,070,000. Hawk Ridge Capital Management LP lifted its stake in shares of Openlane by 72.5% during the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock worth $144,792,000 after purchasing an additional 2,087,200 shares in the last quarter. Park West Asset Management LLC acquired a new position in shares of Openlane during the second quarter worth about $46,368,000. Sunriver Management LLC lifted its stake in shares of Openlane by 1.3% during the first quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock worth $44,255,000 after purchasing an additional 19,634 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Openlane by 7.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company’s stock worth $36,474,000 after buying an additional 86,986 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Openlane News Roundup

Here are the key news stories impacting Openlane this week:

• Positive Sentiment: A recent article highlights raised earnings guidance as a potential reason to reassess OPENLANE’s investment outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus estimate, and revenue growth of 12.6% year over year. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
• Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct ownership by 62.29%. The filing says the sale was to cover tax withholding obligations tied to vested equity awards, which makes it less clearly a negative signal about the business. Openlane Stock: Insider James Coyle Sells 80,755 Shares
• Negative Sentiment: EVP Charles Coleman also reported selling 38,094 shares for about $1.36 million, a reduction of roughly one-third of his position. Insider sales can weigh on investor sentiment, although the reports do not give a reason for this sale. Openlane insider transaction report

Analyst Ratings Changes

OPLN has been the topic of a number of research analyst reports. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Northcoast Research set a $50.00 price objective on Openlane in a report on Wednesday, August 5th. Barclays lifted their price objective on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered Openlane from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

About Openlane

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.