State of Wyoming Invests $1.75 Million in Openlane $OPLN

Key Points

• Wyoming purchased a new $1.75 million stake in Openlane, acquiring 42,443 shares during the second quarter. Institutional investors collectively own 99.76% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $43.83, although one firm recently downgraded the stock to “Hold.”
• 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 to $1.50.

State of Wyoming bought a new position in shares of Openlane (NYSE:OPLN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,443 shares of the company's stock, valued at approximately $1,750,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in Openlane during the 2nd quarter worth approximately $310,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Openlane in the 2nd quarter valued at $401,000. Handelsbanken Fonder AB raised its holdings in shares of Openlane by 10.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 31,525 shares of the company's stock valued at $1,300,000 after purchasing an additional 2,900 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Openlane during the 2nd quarter worth $475,000. Finally, Versant Capital Management Inc lifted its position in shares of Openlane by 94.2% during the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company's stock worth $40,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OPLN shares. Wall Street Zen lowered Openlane from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Stephens reaffirmed an "overweight" rating and set a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. Zacks Research raised Openlane from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised Openlane from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Finally, Robert W. Baird set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Openlane Trading Up 0.5%

Shares of Openlane stock opened at $35.49 on Friday. The company has a fifty day simple moving average of $39.08 and a 200-day simple moving average of $33.80. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -41.75, a PEG ratio of 2.18 and a beta of 1.28.

Openlane (NYSE:OPLN - Get Free Report) last posted its 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. 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 for the quarter was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. On average, equities analysts forecast that Openlane will post 1.45 EPS for the current fiscal year.

Openlane Profile

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.

Want to see what other hedge funds are holding OPLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Openlane (NYSE:OPLN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source