Tidal Investments LLC Takes Position in Openlane $OPLN

Tidal Investments LLC purchased a new position in shares of Openlane (NYSE:OPLN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 27,405 shares of the company’s stock, valued at approximately $1,130,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Openlane by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after acquiring an additional 353 shares during the period. Versant Capital Management Inc grew its holdings in Openlane by 94.2% during the second 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. Nykredit A S acquired a new stake in Openlane in the second quarter worth $46,000. Allworth Financial LP bought a new position in shares of Openlane during the fourth quarter worth $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Openlane in the 4th quarter valued at $39,000. 99.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

OPLN has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday, August 5th. Bank of America lifted their price objective on Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a research report on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Openlane currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Insider Buying and Selling at Openlane

In other news, CEO Peter Kelly purchased 14,830 shares of the business’s stock in a transaction on Monday, August 24th. The stock was purchased at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the completion of the purchase, the chief executive officer directly owned 14,830 shares in the company, valued at $500,067.60. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.22% of the company’s stock.

Openlane Stock Down 0.3%

Openlane stock opened at $34.17 on Friday. 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 1-year low of $24.32 and a 1-year high of $42.90. The company has a fifty day simple moving average of $36.83 and a 200 day simple moving average of $34.83. The company has a market cap of $4.20 billion, a P/E ratio of -40.20, a price-to-earnings-growth ratio of 2.11 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. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The business had revenue of $554.60 million for the quarter. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Research analysts anticipate that Openlane will post 1.45 earnings per share for the current fiscal year.

Openlane Company Profile

OPENLANE, Inc operates a digital wholesale marketplace for used vehicles, connecting automobile dealers, manufacturers, fleet operators, rental companies and other commercial sellers with buyers. The company facilitates vehicle auctions and sales through online platforms and physical auction locations, helping customers source, sell and manage wholesale vehicles.

Its services include online and in-person auctions, vehicle inspections, condition reporting, transportation, title and registration support, reconditioning, and other transaction-related services.