217,210 Shares in Openlane $OPLN Bought by Castleark Management LLC

Key Points

• Castleark Management initiated a 217,210-share stake in Openlane, valued at approximately $8.96 million, while institutional investors collectively own 99.76% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $43.83; Barclays and Northcoast Research set targets of $49 and $50, respectively.
• Openlane exceeded quarterly earnings expectations, reporting $0.40 in EPS versus $0.35 expected and $554.6 million in revenue, up 15.1% year over year. The company guided to fiscal 2026 EPS of $1.40–$1.50.

Castleark Management LLC bought a new stake in shares of Openlane (NYSE:OPLN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 217,210 shares of the company's stock, valued at approximately $8,958,000. Castleark Management LLC owned 0.18% of Openlane at the end of the most recent reporting period.

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

Analysts Set New Price Targets

OPLN has been the topic of a number of analyst reports. Northcoast Research set a $50.00 price objective on shares of Openlane in a research note on Wednesday, August 5th. Barclays increased their price target on shares of Openlane from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Bank of America raised their price target on shares of Openlane from $37.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised shares of Openlane from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.83.

Openlane Stock Performance

OPLN opened at $34.36 on Wednesday. The firm's fifty day simple moving average is $38.58 and its two-hundred day simple moving average is $34.04. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -40.43, a PEG ratio of 2.09 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The business 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 quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities analysts anticipate that Openlane will post 1.45 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.

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