Deutsche Bank AG acquired a new position in Openlane (NYSE:OPLN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 118,184 shares of the company's stock, valued at approximately $4,874,000. Deutsche Bank AG owned 0.10% of Openlane as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in Openlane during the 4th quarter worth $348,271,000. Bank of Montreal Can acquired a new stake in shares of Openlane during the fourth quarter worth $220,158,000. Dimensional Fund Advisors LP bought a new stake in Openlane in the fourth quarter valued at about $200,309,000. Hawk Ridge Capital Management LP lifted its stake in Openlane by 72.5% in the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company's stock valued at $144,792,000 after buying an additional 2,087,200 shares during the period. Finally, State Street Corp bought a new position in Openlane during the fourth quarter worth about $127,581,000. 99.76% of the stock is owned by institutional investors.
Openlane Stock Up 0.9%
OPLN stock opened at $34.36 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $4.22 billion, a P/E ratio of -40.43, a P/E/G ratio of 2.09 and a beta of 1.28. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The business has a 50-day moving average of $38.58 and a 200-day moving average of $34.04.
Openlane (NYSE:OPLN - Get Free Report) last released its 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 for the quarter. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The business'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. On average, sell-side analysts anticipate that Openlane will post 1.45 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Zacks Research raised shares of Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Robert W. Baird set a $40.00 price target on shares of Openlane in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Openlane from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Barclays raised their price objective on Openlane from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Openlane in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.
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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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