Openlane $OPLN is Lone Peak Global Investors LLC’s 7th Largest Position

Lone Peak Global Investors LLC decreased its position in shares of Openlane (NYSE:OPLN) by 22.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,706 shares of the company’s stock after selling 188,323 shares during the quarter. Openlane accounts for about 3.8% of Lone Peak Global Investors LLC’s holdings, making the stock its 7th biggest position. Lone Peak Global Investors LLC’s holdings in Openlane were worth $27,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hawk Ridge Capital Management LP boosted its position in Openlane by 72.5% during the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock worth $144,792,000 after purchasing an additional 2,087,200 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Openlane in the second quarter valued at $18,146,000. Nicholas Company Inc. purchased a new stake in shares of Openlane in the 4th quarter worth about $6,380,000. Comerica Bank acquired a new stake in Openlane in the 4th quarter valued at about $951,000. Finally, New York State Teachers Retirement System purchased a new position in Openlane during the 4th quarter valued at about $2,152,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Stock Performance

Openlane stock opened at $35.03 on Wednesday. The stock has a fifty day moving average price of $38.29 and a 200 day moving average price of $34.25. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The firm has a market capitalization of $4.30 billion, a P/E ratio of -41.21, a PEG ratio of 2.19 and a beta of 1.26.

Openlane (NYSE:OPLN) last released its earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $554.60 million during the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities research analysts anticipate that Openlane will post 1.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Peter J. Kelly bought 14,830 shares of Openlane stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the completion of the acquisition, the chief executive officer owned 14,830 shares of the company’s stock, valued at $500,067.60. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OPLN shares. Wall Street Zen cut shares of Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. 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 report on Wednesday, May 27th. Finally, Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Openlane currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

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.