Kimelman & Baird LLC Purchases New Holdings in Openlane $OPLN

Kimelman & Baird LLC purchased a new stake in shares of Openlane (NYSE:OPLN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 809,840 shares of the company’s stock, valued at approximately $24,117,000. Openlane accounts for approximately 1.9% of Kimelman & Baird LLC’s portfolio, making the stock its 21st largest holding. Kimelman & Baird LLC owned approximately 0.76% of Openlane at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new stake in shares of Openlane in the 4th quarter valued at approximately $857,000. Smith Moore & CO. bought a new stake in shares of Openlane in the 4th quarter valued at approximately $448,000. State of Alaska Department of Revenue bought a new stake in shares of Openlane in the 4th quarter valued at approximately $2,211,000. Guidance Capital Inc. bought a new stake in shares of Openlane in the 4th quarter valued at approximately $770,000. Finally, CWM LLC bought a new stake in shares of Openlane in the 4th quarter valued at approximately $320,000. 99.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Openlane news, EVP Tobin P. Richer sold 66,709 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president owned 28,697 shares of the company’s stock, valued at approximately $1,026,491.69. This represents a 69.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James P. Coyle sold 88,444 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $28.83, for a total value of $2,549,840.52. Following the transaction, the executive vice president directly owned 63,869 shares in the company, valued at approximately $1,841,343.27. This represents a 58.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 200,416 shares of company stock valued at $6,568,773 over the last quarter. 2.22% of the stock is owned by insiders.

Openlane Price Performance

Shares of OPLN opened at $34.98 on Tuesday. The firm has a market cap of $3.71 billion, a P/E ratio of -34.29, a P/E/G ratio of 1.80 and a beta of 1.22. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a one year low of $21.84 and a one year high of $38.52. The stock has a 50 day simple moving average of $30.68.

Openlane (NYSE:OPLN) last announced its earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts anticipate that Openlane will post 1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OPLN has been the topic of several analyst reports. Robert W. Baird set a $40.00 price objective on Openlane in a research note on Wednesday, May 6th. Weiss Ratings lowered Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Barclays upped their price objective on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.