Openlane $OPLN Stock Position Lessened by Kimelman & Baird LLC

Kimelman & Baird LLC reduced its position in shares of Openlane (NYSE:OPLN) by 20.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 609,863 shares of the company’s stock after selling 152,672 shares during the period. Openlane comprises about 1.5% of Kimelman & Baird LLC’s investment portfolio, making the stock its 25th biggest position. Kimelman & Baird LLC’s holdings in Openlane were worth $20,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OPLN. Ethic Inc. boosted its position in Openlane by 3.3% in the third quarter. Ethic Inc. now owns 10,196 shares of the company’s stock valued at $348,000 after buying an additional 328 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Openlane by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after buying an additional 353 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock worth $36,000 after buying an additional 405 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after acquiring an additional 475 shares during the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Openlane by 3.5% in the third quarter. Yousif Capital Management LLC now owns 29,661 shares of the company’s stock valued at $1,012,000 after acquiring an additional 992 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Openlane Stock Down 3.8%

Shares of NYSE OPLN opened at $34.30 on Friday. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The firm’s 50-day simple moving average is $35.96 and its 200 day simple moving average is $34.30. The company has a quick ratio of 1.17, a current ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -46.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm had revenue of $561.20 million during the quarter. The business’s revenue was up 12.6% on a year-over-year basis. On average, research analysts expect that Openlane will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen downgraded Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research lowered Openlane from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. Barclays lifted their price objective on Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Northcoast Research set a $50.00 price objective on Openlane in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Openlane currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Insider Activity

In related news, CEO Peter Kelly purchased 14,830 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the acquisition, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.

Openlane Company Profile

OPENLANE, Inc (NYSE: OPLN) operates a digital marketplace and technology platform for the wholesale vehicle industry. The company helps automotive dealers, manufacturers, fleet operators, rental companies and financial institutions buy and sell used vehicles through online and physical auction channels.

Its services include wholesale vehicle auctions, vehicle inspection and condition reporting, transportation and logistics, financing support, title and documentation services, and other tools designed to simplify the remarketing process.