The Manufacturers Life Insurance Company acquired a new stake in Openlane (NYSE:OPLN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 51,156 shares of the company's stock, valued at approximately $2,110,000.
Several other hedge funds have also added to or reduced their stakes in OPLN. Allworth Financial LP bought a new stake in Openlane during the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new position in Openlane in the 4th quarter valued at approximately $39,000. Fifth Third Bancorp bought a new position in shares of Openlane during the fourth quarter valued at $40,000. Versant Capital Management Inc raised its stake in shares of Openlane by 94.2% during the second quarter. Versant Capital Management Inc now owns 979 shares of the company's stock valued at $40,000 after acquiring an additional 475 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Openlane during the fourth quarter worth $42,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CEO Peter J. Kelly acquired 14,830 shares of the business's stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $33.72 per share, with a total value of $500,067.60. Following the transaction, the chief executive officer directly owned 14,830 shares of the company's stock, valued at $500,067.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.22% of the company's stock.
Openlane Price Performance
OPLN stock opened at $34.59 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -40.69, a PEG ratio of 2.15 and a beta of 1.26. The company's fifty day simple moving average is $38.19 and its 200 day simple moving average is $34.30. 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 earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates 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. On average, analysts expect that Openlane will post 1.45 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Zacks Research raised shares of Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Bank of America lifted their target price on Openlane from $37.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a research report on Wednesday, August 26th. Barclays increased their price target on Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $40.00 price objective on Openlane in a research report on Wednesday, May 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 company's stock. According to data from MarketBeat.com, Openlane has an average rating of "Moderate Buy" and a consensus price target of $43.83.
Check Out Our Latest Research Report 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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