Arrowstreet Capital Limited Partnership Increases Stock Holdings in Openlane $OPLN

Arrowstreet Capital Limited Partnership increased its stake in shares of Openlane (NYSE:OPLN - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,251,247 shares of the company's stock after acquiring an additional 86,986 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.18% of Openlane worth $36,474,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Openlane during the 4th quarter valued at $348,271,000. Bank of Montreal Can acquired a new position in Openlane in the 4th quarter worth $220,158,000. Dimensional Fund Advisors LP purchased a new position in Openlane in the 4th quarter valued at about $200,309,000. State Street Corp purchased a new position in Openlane in the 4th quarter valued at about $127,581,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Openlane during the fourth quarter valued at about $103,876,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Openlane Stock Performance

OPLN opened at $40.35 on Wednesday. The company has a market cap of $4.27 billion, a P/E ratio of -39.56, a P/E/G ratio of 2.23 and a beta of 1.26. The business has a 50-day moving average of $38.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a 1-year low of $24.10 and a 1-year high of $42.90.

Openlane (NYSE:OPLN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The business had revenue of $527.90 million during the quarter. During the same quarter last year, the business posted $0.31 earnings per share. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, sell-side analysts expect that Openlane will post 1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OPLN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Openlane from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. Barclays raised their price objective on Openlane from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Robert W. Baird set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. Bank of America upped their target price on Openlane from $37.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Zacks Research upgraded Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $41.67.

Insider Transactions at Openlane

In related news, EVP James P. Coyle sold 15,000 shares of the stock in a transaction dated 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 represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $36.04, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,972 shares of company stock worth $4,018,932 in the last quarter. Insiders own 2.22% of the company's stock.

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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