Legal & General Group Plc Takes $10.23 Million Position in Openlane $OPLN

Key Points

• Legal & General Group Plc acquired 248,167 Openlane shares worth approximately $10.23 million, representing about 0.20% of the company. Institutional investors collectively own 99.76% of Openlane.
• Openlane reported quarterly EPS of $0.40, beating estimates of $0.35, while revenue rose 15.1% year over year to $554.6 million. The company maintained fiscal 2026 EPS guidance of $1.40–$1.50.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a $43.83 target price versus a recent share price of $35.62. CEO Peter J. Kelly also purchased approximately $500,000 of company stock.

Legal & General Group Plc purchased a new position in shares of Openlane (NYSE:OPLN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 248,167 shares of the company's stock, valued at approximately $10,234,000. Legal & General Group Plc owned approximately 0.20% of Openlane as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in shares of Openlane by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company's stock worth $162,000 after acquiring an additional 353 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Openlane by 94.2% during the second quarter. Versant Capital Management Inc now owns 979 shares of the company's stock worth $40,000 after purchasing an additional 475 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Openlane during the fourth quarter valued at 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. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane in the fourth quarter valued at approximately $40,000. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Openlane from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research raised Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Northcoast Research set a $50.00 target price on Openlane in a research report on Wednesday, August 5th. Robert W. Baird set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a report on Wednesday, August 26th. One research 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.83.

Openlane Trading Up 1.5%

OPLN opened at $35.62 on Tuesday. The firm has a 50 day simple moving average of $38.36 and a 200 day simple moving average of $34.21. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -41.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28. 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 (NYSE:OPLN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The firm had revenue of $554.60 million for the quarter. The firm'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. On average, sell-side analysts anticipate that Openlane will post 1.45 earnings per share for the current year.

Insider Buying and Selling at Openlane

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

About Openlane

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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