Openlane (NYSE:OPLN) EVP Tobin Richer Sells 3,458 Shares of Stock

Key Points

• EVP Tobin Richer sold 3,458 Openlane shares at an average $35.44 each, worth about $122,552, reducing his holdings by 12.28% to 24,697 shares.
• Openlane reported quarterly EPS of $0.43, topping 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 price target of $43.83; four analysts rate the stock Buy and three rate it Hold.

Openlane (NYSE:OPLN - Get Free Report) EVP Tobin Richer sold 3,458 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $35.44, for a total value of $122,551.52. Following the completion of the transaction, the executive vice president owned 24,697 shares in the company, valued at $875,261.68. The trade was a 12.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Openlane Trading Down 0.1%

NYSE:OPLN traded down $0.03 on Thursday, hitting $35.01. 69,220 shares of the stock were exchanged, compared to its average volume of 1,047,328. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -47.32, a P/E/G ratio of 1.57 and a beta of 1.35. 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's 50-day moving average price is $35.95 and its 200 day moving average price is $34.37.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Openlane

Several hedge funds have recently bought and sold shares of OPLN. Salomon & Ludwin LLC boosted 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 worth $36,000 after purchasing an additional 405 shares in the last quarter. Versant Capital Management Inc grew 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 valued at $40,000 after buying an additional 475 shares during the period. Nykredit A S bought a new stake in shares of Openlane in the 2nd quarter valued at $46,000. Allworth Financial LP bought a new stake in shares of Openlane in the 2nd quarter valued at $56,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Openlane in the 2nd quarter valued at $75,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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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