Sierra Summit Advisors LLC Takes Position in Openlane $OPLN

Sierra Summit Advisors LLC purchased a new stake in shares of Openlane (NYSE:OPLN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 30,526 shares of the company’s stock, valued at approximately $909,000.

A number of other institutional investors have also recently made changes to their positions in OPLN. Salomon & Ludwin LLC purchased a new stake in shares of Openlane during the 4th quarter valued at about $26,000. First Horizon Corp purchased a new stake in shares of Openlane during the 4th quarter valued at about $27,000. Allworth Financial LP purchased a new stake in shares of Openlane during the 4th quarter valued at about $38,000. Fifth Third Bancorp purchased a new stake in shares of Openlane during the 4th quarter valued at about $40,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of Openlane during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

OPLN has been the topic of several recent research reports. Northcoast Research set a $40.00 price objective on shares of Openlane in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Openlane Price Performance

Openlane stock opened at $35.24 on Thursday. The company has a market capitalization of $3.73 billion, a PE ratio of -34.54, a P/E/G ratio of 1.78 and a beta of 1.22. 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 has a 1 year low of $21.84 and a 1 year high of $38.52. The firm’s 50 day moving average is $30.93.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, equities analysts expect that Openlane will post 1.3 EPS for the current year.

Insider Activity at Openlane

In other news, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the sale, the executive vice president owned 58,512 shares in the company, valued at $2,092,974.24. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tobin P. Richer sold 4,000 shares of Openlane stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $38.31, for a total transaction of $153,240.00. Following the sale, the executive vice president owned 24,697 shares in the company, valued at approximately $946,142.07. The trade was a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 200,416 shares of company stock worth $6,568,773. 2.22% of the stock is currently owned by corporate insiders.

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.