Sei Investments Co. Sells 93,091 Shares of Openlane $OPLN

Sei Investments Co. reduced its position in Openlane (NYSE:OPLN) by 40.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 134,458 shares of the company’s stock after selling 93,091 shares during the period. Sei Investments Co. owned 0.13% of Openlane worth $3,919,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new position in shares of Openlane in the fourth quarter worth about $26,000. First Horizon Corp bought a new position in Openlane in the 4th quarter worth approximately $27,000. Allworth Financial LP bought a new position in Openlane in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new position in Openlane in the 4th quarter valued at approximately $39,000. Finally, Fifth Third Bancorp purchased a new position in Openlane in the 4th quarter valued at approximately $40,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $36.04, for a total value of $234,260.00. Following the sale, the insider owned 15,914 shares in the company, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OPLN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Barclays raised their price target on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday. Northcoast Research set a $50.00 price objective on Openlane in a research note on Wednesday. Zacks Research raised Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Robert W. Baird set a $40.00 target price on Openlane in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Openlane Stock Performance

Openlane stock opened at $37.57 on Friday. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $4.61 billion, a PE ratio of -44.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28. The firm’s 50 day simple moving average is $39.24 and its 200 day simple moving average is $33.58.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $554.60 million during the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. Openlane’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. As a group, analysts expect that Openlane will post 1.47 earnings per share for the current fiscal year.

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.