Convergence Investment Partners LLC Invests $606,000 in Openlane $OPLN

Convergence Investment Partners LLC purchased a new position in Openlane (NYSE:OPLN) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,355 shares of the company’s stock, valued at approximately $606,000.

Other institutional investors also recently made changes to their positions in the company. Comerica Bank acquired a new stake in shares of Openlane in the 4th quarter worth approximately $951,000. New York State Teachers Retirement System acquired a new stake in shares of Openlane in the 4th quarter worth approximately $2,152,000. Nicholas Company Inc. acquired a new stake in shares of Openlane in the 4th quarter worth approximately $6,380,000. Paradice Investment Management LLC acquired a new stake in shares of Openlane in the 4th quarter worth approximately $23,837,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Openlane in the 4th quarter worth approximately $348,271,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OPLN has been the subject of a number of research analyst reports. Stephens upped their price target on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings lowered shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Barclays upped their price target on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Three investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Openlane Price Performance

OPLN stock opened at $34.89 on Friday. Openlane has a 52-week low of $21.84 and a 52-week high of $38.52. The company’s 50 day moving average price is $30.55. 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 firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -34.21, a P/E/G ratio of 1.80 and a beta of 1.22.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million for the quarter. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts predict that Openlane will post 1.3 EPS for the current fiscal year.

Insider Activity

In other news, insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the sale, the insider owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles S. Coleman sold 19,763 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the sale, the executive vice president owned 74,334 shares in the company, valued at $2,665,617.24. This represents a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,416 shares of company stock worth $6,568,773 over the last three months. 2.22% of the stock is owned by insiders.

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.