Openlane (NYSE:OPLN) EVP Charles Coleman Sells 38,769 Shares of Company Stock

Key Points

• EVP Charles Coleman sold 38,769 Openlane shares at an average price of $35.21, totaling about $1.37 million. His direct holdings fell 34.28% to 74,334 shares.
• Openlane’s latest quarterly results beat expectations: EPS was $0.43 versus the $0.39 consensus, while revenue rose 12.6% year over year to $561.2 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $43.83; shares recently traded at $35.01.

Openlane (NYSE:OPLN - Get Free Report) EVP Charles Coleman sold 38,769 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $35.21, for a total transaction of $1,365,056.49. Following the completion of the transaction, the executive vice president directly owned 74,334 shares of the company's stock, valued at $2,617,300.14. This represents a 34.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Openlane Stock Down 0.1%

Shares of NYSE OPLN traded down $0.03 during mid-day trading on Thursday, reaching $35.01. The company had a trading volume of 69,220 shares, compared to its average volume of 1,047,328. 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 market capitalization of $4.25 billion, a price-to-earnings ratio of -47.30, a PEG ratio of 1.57 and a beta of 1.35. The stock has a fifty day moving average of $35.95 and a two-hundred day moving average of $34.37.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Openlane

Several institutional investors have recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC increased its holdings in shares of Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company's stock worth $36,000 after buying an additional 405 shares in the last quarter. Versant Capital Management Inc boosted 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 in 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, Persistent Asset Partners Ltd bought a new stake in Openlane during the 2nd quarter worth approximately $75,000. 99.76% of the stock is owned by institutional investors.

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.

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