Kimelman & Baird LLC Purchases Shares of 762,535 Openlane $OPLN

Key Points

• Kimelman & Baird LLC acquired 762,535 Openlane shares worth approximately $31.4 million, representing 1.7% of its portfolio and 0.62% of Openlane’s outstanding stock. Institutional investors collectively own 99.76% of the company.
• Analysts maintain a generally positive outlook, with Openlane receiving a “Moderate Buy” consensus rating and an average price target of $43.83. Recent targets range from $38 to $50.
• Openlane reported quarterly EPS of $0.40, exceeding estimates by $0.05, while revenue rose 15.1% year over year to $554.6 million. CEO Peter J. Kelly also purchased 14,830 shares for about $500,000.

Kimelman & Baird LLC acquired a new position in Openlane (NYSE:OPLN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 762,535 shares of the company's stock, valued at approximately $31,447,000. Openlane accounts for approximately 1.7% of Kimelman & Baird LLC's portfolio, making the stock its 25th largest holding. Kimelman & Baird LLC owned 0.62% of Openlane at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP bought a new position in Openlane in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Openlane during the fourth quarter valued at approximately $39,000. Fifth Third Bancorp bought a new stake in shares of Openlane during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc lifted its holdings in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company's stock worth $40,000 after buying an additional 475 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Openlane in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on OPLN. Northcoast Research set a $50.00 target price on shares of Openlane in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upgraded shares of 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. Bank of America increased their price objective on shares of Openlane from $37.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings restated a "hold (c)" rating on shares of Openlane in a research report on Wednesday. Finally, Robert W. Baird set a $40.00 target price on Openlane in a 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Openlane currently has an average rating of "Moderate Buy" and an average price target of $43.83.

Insider Activity at Openlane

In other Openlane news, CEO Peter J. Kelly bought 14,830 shares of Openlane stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $33.72 per share, for a total transaction of $500,067.60. Following the acquisition, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.22% of the stock is owned by insiders.

Openlane Trading Down 1.1%

OPLN stock opened at $35.11 on Friday. The firm has a fifty day moving average price of $38.42 and a 200 day moving average price of $34.13. Openlane has a fifty-two week low of $24.32 and a fifty-two 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 firm has a market cap of $4.31 billion, a PE ratio of -41.31, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28.

Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $554.60 million for the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The business's 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. Sell-side 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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