Quantinno Capital Management LP Acquires 41,604 Shares of Openlane $OPLN

Key Points

• Quantinno Capital Management increased its Openlane stake by 290.6% in the first quarter, acquiring 41,604 additional shares for a total holding of 55,922 shares valued at approximately $1.63 million.
• Institutional ownership remains extremely high at 99.76%, with major new positions established by Vanguard, Bank of Montreal, Dimensional Fund Advisors, State Street and Neuberger Berman.
• Openlane reported quarterly EPS of $0.40, beating estimates by $0.05, while revenue rose 15.1% year over year to $554.6 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $43.83, versus a recent share price of $35.30.

Quantinno Capital Management LP lifted its holdings in Openlane (NYSE:OPLN - Free Report) by 290.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,922 shares of the company's stock after purchasing an additional 41,604 shares during the quarter. Quantinno Capital Management LP owned 0.05% of Openlane worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in Openlane in the 4th quarter worth about $348,271,000. Bank of Montreal Can purchased a new position in Openlane in the 4th quarter worth about $220,158,000. Dimensional Fund Advisors LP bought a new position in Openlane during the 4th quarter valued at about $200,309,000. State Street Corp bought a new position in Openlane during the 4th quarter valued at about $127,581,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Openlane during the 4th quarter valued at about $103,876,000. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. 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 research report on Thursday, July 9th. Weiss Ratings restated a "hold (c)" rating on shares of Openlane in a report on Friday, May 29th. JPMorgan Chase & Co. raised shares of Openlane from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Openlane from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Openlane presently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Openlane Trading Down 3.3%

Shares of NYSE:OPLN opened at $35.30 on Thursday. The stock's 50-day simple moving average is $39.13 and its two-hundred day simple moving average is $33.75. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -41.53, a PEG ratio of 2.25 and a beta of 1.28. 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.

Openlane (NYSE:OPLN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 EPS 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 firm had revenue of $554.60 million during the quarter. The firm'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. Analysts expect that Openlane will post 1.45 EPS for the current year.

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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