Park West Asset Management LLC acquired a new position in shares of Openlane (NYSE:OPLN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,124,348 shares of the company's stock, valued at approximately $46,368,000. Openlane comprises 3.2% of Park West Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Park West Asset Management LLC owned approximately 0.92% of Openlane at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Openlane in the second quarter worth $660,070,000. Vanguard Group Inc. bought a new position in Openlane during the 4th quarter valued at $348,271,000. Bank of Montreal Can bought a new position in Openlane during the 4th quarter valued at $220,158,000. Dimensional Fund Advisors LP acquired a new position in Openlane during the 4th quarter worth $200,309,000. Finally, State Street Corp acquired a new position in Openlane during the 4th quarter worth $127,581,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Openlane
In other news, CEO Peter J. Kelly bought 14,830 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the acquisition, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.22% of the stock is owned by corporate insiders.
Openlane Stock Up 0.9%
OPLN opened at $34.62 on Thursday. The stock's 50 day moving average price is $38.53 and its 200 day moving average price is $34.08. 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 cap of $4.25 billion, a P/E ratio of -40.73, a P/E/G ratio of 2.11 and a beta of 1.28. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90.
Openlane (NYSE:OPLN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The company 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%.Openlane's revenue for the quarter was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, research analysts predict that Openlane will post 1.45 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on OPLN shares. Bank of America lifted their target price on Openlane from $37.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Robert W. Baird set a $40.00 price objective on Openlane in a research note on Wednesday, May 6th. Northcoast Research set a $50.00 price objective on shares of Openlane in a report on Wednesday, August 5th. Zacks Research upgraded shares of Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Finally, Barclays increased their target price on shares of Openlane from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.
Read Our Latest Analysis on Openlane
Openlane Company Profile
(
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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