Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 1,207 Shares

Key Points

• Openlane EVP Charles Coleman sold 1,207 shares at an average of $35.01, totaling about $42,257. He retained 74,334 shares after the sale, a 1.6% reduction in his holdings.
• Openlane’s latest quarterly results beat estimates: 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 a $43.83 average price target; the stock recently traded at $35.01.

Openlane (NYSE:OPLN - Get Free Report) EVP Charles Coleman sold 1,207 shares of Openlane stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $35.01, for a total transaction of $42,257.07. Following the sale, the executive vice president owned 74,334 shares of the company's stock, valued at approximately $2,602,433.34. This represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Trading Down 0.1%

Shares of OPLN traded down $0.03 on Thursday, reaching $35.01. 73,732 shares of the company's stock were exchanged, compared to its average volume of 1,047,328. The business has a 50 day moving average price of $35.95 and a two-hundred day moving average price of $34.37. Openlane has a 12 month low of $24.32 and a 12 month high of $42.90. The stock has a market capitalization of $4.25 billion, a P/E ratio of -47.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.35. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN - Get Free Report) last announced 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. 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. The firm's revenue was up 12.6% compared to the same quarter last year. Research analysts anticipate that Openlane will post 1.49 earnings per share for the current year.

Hedge Funds Weigh In On Openlane

A number of hedge funds and other institutional investors have recently made changes to their positions in OPLN. Versant Capital Management Inc increased its position 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 in the last quarter. Salomon & Ludwin LLC lifted its holdings in 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 acquiring an additional 405 shares in the last quarter. Nykredit A S bought a new position in Openlane during the second quarter worth about $46,000. Allworth Financial LP acquired a new position in Openlane in the second quarter valued at about $56,000. Finally, Persistent Asset Partners Ltd acquired a new position in Openlane in the second quarter valued at about $75,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Northcoast Research set a $50.00 price objective on Openlane in a research note on Wednesday, August 5th. Zacks Research lowered Openlane from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. Weiss Ratings restated a "hold (c)" rating on shares of Openlane in a report on Wednesday, August 26th. Barclays raised their target price on Openlane from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Wall Street Zen lowered Openlane from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.83.

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.

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.