Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 402 Shares

Key Points

• EVP Charles Coleman sold 402 Openlane shares at an average $36.06, totaling about $14,496; he retained 74,334 shares after the sale.
• Openlane reported quarterly EPS of $0.43, beating the $0.39 consensus, while revenue reached $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 Charles Coleman sold 402 shares of the company's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $36.06, for a total transaction of $14,496.12. Following the completion of the transaction, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,680,484.04. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Openlane Price Performance

NYSE:OPLN traded up $0.42 during trading hours on Monday, hitting $34.77. 223,200 shares of the company's stock traded hands, compared to its average volume of 1,050,777. The firm has a market cap of $4.22 billion, a P/E ratio of -46.99, a P/E/G ratio of 1.53 and a beta of 1.35. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The business's fifty day simple moving average is $35.96 and its two-hundred day simple moving average is $34.30. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.34.

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

Institutional Investors Weigh In On Openlane

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP purchased a new stake in Openlane during the 3rd quarter valued at about $1,707,000. Russell Investments Group Ltd. lifted its position in Openlane by 112.3% in the third quarter. Russell Investments Group Ltd. now owns 519,770 shares of the company's stock valued at $17,740,000 after purchasing an additional 274,996 shares during the last quarter. R Squared Ltd bought a new stake in Openlane in the third quarter valued at approximately $227,000. Maryland State Retirement & Pension System boosted its stake in shares of Openlane by 60.9% during the third quarter. Maryland State Retirement & Pension System now owns 24,916 shares of the company's stock valued at $850,000 after purchasing an additional 9,429 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Openlane by 0.6% during the third quarter. Illinois Municipal Retirement Fund now owns 58,580 shares of the company's stock valued at $1,999,000 after purchasing an additional 377 shares during the period. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

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

About Openlane

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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