Cookson Peirce & Co. Inc. acquired a new position in shares of Openlane (NYSE:OPLN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 42,834 shares of the company's stock, valued at approximately $1,766,000.
Several other large investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Openlane by 8.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 321,323 shares of the company's stock valued at $13,251,000 after purchasing an additional 24,578 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Openlane in the second quarter valued at about $4,716,000. Kimelman & Baird LLC purchased a new stake in shares of Openlane during the 2nd quarter valued at about $31,447,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Openlane during the 2nd quarter valued at about $75,000. Finally, Capstone Investment Advisors LLC acquired a new position in Openlane during the 2nd quarter worth approximately $812,000. Institutional investors and hedge funds own 99.76% of the company's stock.
Openlane Price Performance
Shares of OPLN opened at $35.11 on Friday. The company has a market cap of $4.31 billion, a P/E ratio of -41.31, a PEG ratio of 2.16 and a beta of 1.28. The stock has a fifty day moving average price of $38.42 and a 200 day moving average price of $34.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90.
Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company 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% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. On average, research analysts forecast that Openlane will post 1.45 earnings per share for the current year.
Wall Street Analyst Weigh In
OPLN has been the subject of a number of recent analyst reports. Northcoast Research set a $50.00 price target on shares of Openlane in a report on Wednesday, August 5th. Barclays upped their price objective on shares of Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised Openlane from a "neutral" rating to an "overweight" rating and increased their price target for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. 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, Robert W. Baird set a $40.00 price target on shares of Openlane in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.83.
Get Our Latest Stock Report on Openlane
Insider Transactions at Openlane
In related news, CEO Peter J. Kelly bought 14,830 shares of the firm's stock in a transaction on Monday, August 24th. The stock was bought at an average price of $33.72 per share, with a total value of $500,067.60. Following the purchase, the chief executive officer directly owned 14,830 shares of the company's stock, valued at approximately $500,067.60. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.22% of the stock is currently owned by insiders.
About Openlane
(
Free Report)
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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