Hsbc Holdings PLC Makes New Investment in Openlane $OPLN

Hsbc Holdings PLC bought a new stake in Openlane (NYSE:OPLN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 113,831 shares of the company's stock, valued at approximately $4,716,000. Hsbc Holdings PLC owned about 0.09% of Openlane at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OPLN. BlackRock Inc. bought a new stake in shares of Openlane during the second quarter worth about $660,070,000. Bank of Montreal Can acquired a new stake in Openlane during the 4th quarter worth approximately $220,158,000. Dimensional Fund Advisors LP acquired a new stake in Openlane during the 4th quarter worth approximately $200,309,000. Hawk Ridge Capital Management LP grew its holdings in Openlane by 72.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company's stock worth $144,792,000 after acquiring an additional 2,087,200 shares during the last quarter. Finally, State Street Corp bought a new stake in Openlane during the 4th quarter worth approximately $127,581,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Openlane Price Performance

Openlane stock opened at $34.76 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -40.89, a PEG ratio of 2.17 and a beta of 1.26. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock's 50 day moving average price is $37.51 and its two-hundred day moving average price is $34.57.

Openlane (NYSE:OPLN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The company had revenue of $554.60 million during the quarter. The company's quarterly revenue 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, equities analysts predict that Openlane will post 1.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OPLN shares. JPMorgan Chase & Co. raised shares of Openlane from a "neutral" rating to an "overweight" rating and raised their price target for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Stephens reissued an "overweight" rating and issued a $42.00 price objective on shares of Openlane in a research note on Thursday, June 11th. Wall Street Zen downgraded Openlane from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research downgraded Openlane from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Openlane in a research report on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Openlane presently has a consensus rating of "Moderate Buy" and an average price target of $43.83.

Insider Buying and Selling

In related news, CEO Peter Kelly purchased 14,830 shares of the firm's stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $33.72 per share, with a total value of $500,067.60. Following the completion of the purchase, the chief executive officer owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.22% of the company's stock.

Openlane 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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