Hawk Ridge Capital Management LP Purchases 2,087,200 Shares of Openlane $OPLN

Hawk Ridge Capital Management LP lifted its position in Openlane (NYSE:OPLN) by 72.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,967,144 shares of the company’s stock after purchasing an additional 2,087,200 shares during the quarter. Openlane comprises about 5.3% of Hawk Ridge Capital Management LP’s holdings, making the stock its 4th biggest holding. Hawk Ridge Capital Management LP owned approximately 4.69% of Openlane worth $144,792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its stake in Openlane by 290.6% during the first quarter. Quantinno Capital Management LP now owns 55,922 shares of the company’s stock worth $1,630,000 after purchasing an additional 41,604 shares during the period. Lazard Asset Management LLC boosted its holdings in Openlane by 10.9% in the 1st quarter. Lazard Asset Management LLC now owns 281,078 shares of the company’s stock valued at $8,193,000 after purchasing an additional 27,616 shares during the last quarter. Entropy Technologies LP grew its stake in shares of Openlane by 79.6% in the 1st quarter. Entropy Technologies LP now owns 19,330 shares of the company’s stock valued at $563,000 after buying an additional 8,569 shares during the period. Sunriver Management LLC grew its stake in shares of Openlane by 1.3% in the 1st quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock valued at $44,255,000 after buying an additional 19,634 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Openlane by 28.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 113,230 shares of the company’s stock worth $3,301,000 after buying an additional 25,159 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the completion of the transaction, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. This trade represents a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,972 shares of company stock worth $4,018,932 over the last ninety days. Company insiders own 2.22% of the company’s stock.

Openlane Trading Up 1.9%

OPLN opened at $40.07 on Tuesday. The business’s 50-day moving average price is $38.59. Openlane has a 12-month low of $24.10 and a 12-month high of $42.90. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -39.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OPLN shares. Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Robert W. Baird set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.67.

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.