Openlane (NYSE:OPLN) EVP Charles Coleman Sells 38,094 Shares of Company Stock

Key Points

• EVP Charles Coleman sold 38,094 Openlane shares at an average of $35.65, for about $1.36 million. The sale reduced his holdings by 33.88%, leaving him with 74,334 shares.
• Openlane reported quarterly EPS of $0.43, beating the $0.39 consensus estimate; revenue was $561.2 million, up 12.6% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average target price of $43.83. Shares rose 1.2% to $34.77 in Monday trading.

Openlane (NYSE:OPLN - Get Free Report) EVP Charles Coleman sold 38,094 shares of the company's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $35.65, for a total value of $1,358,051.10. Following the completion of the sale, the executive vice president owned 74,334 shares of the company's stock, valued at approximately $2,650,007.10. The trade was a 33.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Openlane Trading Up 1.2%

Shares of NYSE OPLN traded up $0.42 during trading on Monday, hitting $34.77. 223,200 shares of the company were exchanged, compared to its average volume of 1,050,777. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.16. The company has a fifty day moving average price of $35.96 and a 200-day moving average price of $34.30. The firm has a market capitalization of $4.22 billion, a PE ratio of -46.99, a P/E/G ratio of 1.53 and a beta of 1.35.

Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm had revenue of $561.20 million for the quarter. Openlane's revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Openlane will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

OPLN has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a report on Wednesday, August 26th. Barclays lifted their price target on shares of Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Northcoast Research set a $50.00 price objective on Openlane in a report on Wednesday, August 5th. Wall Street Zen lowered Openlane from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Zacks Research cut Openlane from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OPLN. Salomon & Ludwin LLC increased its position in shares of Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company's stock valued at $36,000 after acquiring an additional 405 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Openlane by 94.2% in the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company's stock worth $40,000 after acquiring an additional 475 shares during the last quarter. Nykredit A S acquired a new position in shares of Openlane in the 2nd quarter worth approximately $46,000. Allworth Financial LP acquired a new position in shares of Openlane in the 2nd quarter worth approximately $56,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Openlane during the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Openlane Company Profile

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.

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