Sunriver Management LLC Has $44.26 Million Stock Holdings in Openlane $OPLN

Sunriver Management LLC boosted its stake in Openlane (NYSE:OPLN) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 1,518,196 shares of the company’s stock after acquiring an additional 19,634 shares during the period. Openlane makes up approximately 7.5% of Sunriver Management LLC’s holdings, making the stock its 4th largest holding. Sunriver Management LLC’s holdings in Openlane were worth $44,255,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OPLN. Comerica Bank purchased a new position in shares of Openlane in the 4th quarter worth $951,000. New York State Teachers Retirement System purchased a new stake in Openlane during the fourth quarter valued at $2,152,000. Nicholas Company Inc. purchased a new stake in Openlane during the fourth quarter valued at $6,380,000. Paradice Investment Management LLC bought a new position in Openlane in the fourth quarter valued at about $23,837,000. Finally, Strs Ohio bought a new position in Openlane in the fourth quarter valued at about $1,072,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OPLN. Northcoast Research set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research note on Wednesday, May 6th. Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Openlane Trading Up 0.8%

NYSE:OPLN opened at $39.30 on Friday. The stock’s 50-day simple moving average is $38.49. The stock has a market capitalization of $4.16 billion, a PE ratio of -38.53, a P/E/G ratio of 2.31 and a beta of 1.26. Openlane has a 12-month low of $24.10 and a 12-month high of $42.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company had revenue of $527.90 million for the quarter. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts predict that Openlane will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Openlane

In related news, EVP Tobin P. Richer sold 4,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.31, for a total transaction of $153,240.00. Following the completion of the transaction, the executive vice president directly owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James P. Coyle sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the transaction, the executive vice president directly owned 58,512 shares of the company’s stock, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is currently owned by corporate insiders.

Openlane Profile

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.