William Blair Investment Management LLC Invests $7.92 Million in Openlane $OPLN

William Blair Investment Management LLC acquired a new stake in Openlane (NYSE:OPLN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 192,046 shares of the company’s stock, valued at approximately $7,920,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP bought a new stake in Openlane during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Openlane during the 4th quarter worth about $39,000. Fifth Third Bancorp acquired a new position in shares of Openlane during the 4th quarter worth about $40,000. Versant Capital Management Inc raised its holdings 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 purchasing an additional 475 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Openlane in the 4th quarter valued at about $42,000. 99.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on OPLN. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Wall Street Zen downgraded Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America boosted their target price on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Barclays increased their price target on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane Price Performance

Openlane stock opened at $33.34 on Monday. The stock’s fifty day moving average price is $38.75 and its two-hundred day moving average price is $33.97. Openlane has a one year low of $24.32 and a one year high of $42.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $4.09 billion, a PE ratio of -39.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.28.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $554.60 million during the quarter. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The firm’s revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, research analysts expect that Openlane will post 1.45 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.