New York State Teachers Retirement System Invests $2.15 Million in Openlane $OPLN

Key Points

• New York State Teachers Retirement System opened a new position in Openlane, buying 72,269 shares worth about $2.15 million in the fourth quarter.
• Openlane reported better-than-expected quarterly results, with EPS of $0.35 versus the $0.32 estimate and revenue up 14.8% year over year to $527.9 million.
• Insiders have been selling shares: EVP Tobin P. Richer and EVP James P. Coyle made sizable sales, and insiders sold 189,916 shares over the last quarter in total.

New York State Teachers Retirement System purchased a new stake in shares of Openlane (NYSE:OPLN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,269 shares of the company's stock, valued at approximately $2,152,000. New York State Teachers Retirement System owned about 0.07% of Openlane at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OPLN. Salomon & Ludwin LLC acquired a new position in Openlane during the 4th quarter worth $26,000. First Horizon Corp bought a new position in Openlane in the 4th quarter valued at $27,000. North Star Investment Management Corp. acquired a new stake in shares of Openlane in the 4th quarter valued at $47,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Openlane in the 4th quarter valued at $149,000. Finally, M&T Bank Corp bought a new stake in shares of Openlane during the fourth quarter worth $214,000. Institutional investors and hedge funds own 99.76% of the company's stock.

Insiders Place Their Bets

In other Openlane news, EVP Tobin P. Richer sold 66,709 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president owned 28,697 shares in the company, valued at approximately $1,026,491.69. This trade represents a 69.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James P. Coyle sold 88,444 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $28.83, for a total value of $2,549,840.52. Following the transaction, the executive vice president owned 63,869 shares of the company's stock, valued at $1,841,343.27. The trade was a 58.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 189,916 shares of company stock worth $6,181,273. Insiders own 2.22% of the company's stock.

Openlane Stock Up 0.6%

OPLN stock opened at $37.91 on Friday. The company has a fifty day moving average of $29.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $4.02 billion, a P/E ratio of -37.16 and a beta of 1.22. Openlane has a twelve month low of $21.62 and a twelve month high of $38.49.

Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The business had revenue of $527.90 million during the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts anticipate that Openlane will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OPLN shares. Stephens upped their price target on Openlane from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, January 23rd. Weiss Ratings cut Openlane from a "buy (b)" rating to a "hold (c)" rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. upped their target price on shares of Openlane from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday. Northcoast Research set a $40.00 target price on shares of Openlane in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Openlane from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.00.

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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