Ranger Investment Management L.P. Takes $18.15 Million Position in Openlane $OPLN

Key Points

• Ranger Investment Management acquired 440,010 Openlane shares worth approximately $18.15 million, representing about 0.36% of the company. Institutional investors collectively own 99.76% of Openlane.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $43.83, although some firms maintain or recently moved to hold ratings.
• Openlane reported quarterly EPS of $0.40, exceeding estimates of $0.35, while revenue rose 15.1% year over year to $554.6 million. Shares opened at $33.34, below the consensus price target and their 12-month high of $42.90.

Ranger Investment Management L.P. bought a new stake in Openlane (NYSE:OPLN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 440,010 shares of the company's stock, valued at approximately $18,146,000. Ranger Investment Management L.P. owned approximately 0.36% of Openlane at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Openlane in the second quarter valued at approximately $768,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Openlane during the 2nd quarter worth approximately $1,827,000. Quantbot Technologies LP acquired a new position in shares of Openlane during the 2nd quarter worth approximately $783,000. William Blair Investment Management LLC bought a new stake in Openlane in the 2nd quarter valued at $7,920,000. Finally, Callan Family Office LLC bought a new stake in Openlane in the 2nd quarter valued at $202,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen cut shares of Openlane from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised Openlane from a "neutral" rating to an "overweight" rating and upped their target price for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a research note on Friday, May 29th. Zacks Research raised Openlane from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Finally, Robert W. Baird set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Openlane Stock Down 0.2%

Shares of OPLN opened at $33.34 on Monday. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90. The firm's 50 day moving average is $38.75 and its 200-day moving average is $33.97. The stock has a market capitalization of $4.09 billion, a PE ratio of -39.22, a P/E/G ratio of 2.05 and a beta of 1.28. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

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