Horizon Investments LLC Takes $813,000 Position in Openlane $OPLN

Horizon Investments LLC bought a new stake in shares of Openlane (NYSE:OPLN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 27,314 shares of the company’s stock, valued at approximately $813,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OPLN. Fifth Third Bancorp bought a new position in shares of Openlane in the fourth quarter valued at approximately $40,000. New York State Teachers Retirement System purchased a new stake in Openlane in the fourth quarter worth $2,152,000. North Star Investment Management Corp. purchased a new stake in Openlane in the fourth quarter worth $47,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Openlane in the fourth quarter valued at $2,533,000. Finally, M&T Bank Corp purchased a new position in shares of Openlane in the fourth quarter valued at $214,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OPLN. Robert W. Baird set a $40.00 price objective on Openlane in a research note on Wednesday. Northcoast Research set a $40.00 price objective on Openlane in a report on Wednesday. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, March 3rd. Finally, Barclays boosted their price target on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Transactions at Openlane

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $28.83, for a total value of $2,549,840.52. Following the completion of the sale, the executive vice president owned 63,869 shares of the company’s stock, valued at $1,841,343.27. This trade represents a 58.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.22% of the stock is currently owned by insiders.

Openlane Stock Performance

Shares of OPLN stock opened at $37.62 on Friday. Openlane has a 52-week low of $20.53 and a 52-week high of $38.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -36.88 and a beta of 1.22. The business has a fifty day simple moving average of $29.59.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts forecast that Openlane will post 1.34 EPS for the current fiscal year.

About Openlane

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.