Intrinsic Edge Capital Management LLC Sells 147,800 Shares of Openlane $OPLN

Intrinsic Edge Capital Management LLC decreased its holdings in Openlane (NYSE:OPLN) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 299,031 shares of the company’s stock after selling 147,800 shares during the quarter. Openlane accounts for approximately 1.4% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 19th biggest holding. Intrinsic Edge Capital Management LLC owned 0.28% of Openlane worth $8,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Openlane by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock valued at $162,000 after acquiring an additional 353 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Openlane in the fourth quarter worth about $26,000. First Horizon Corp acquired a new position in Openlane in the fourth quarter worth about $27,000. Allworth Financial LP bought a new position in Openlane during the fourth quarter worth about $38,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in Openlane during the fourth quarter worth about $39,000. 99.76% of the stock is owned by institutional investors.

Openlane Stock Down 0.0%

NYSE:OPLN opened at $40.33 on Thursday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -39.54, a PEG ratio of 2.24 and a beta of 1.26. Openlane has a 12 month low of $24.10 and a 12 month high of $42.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day moving average price of $38.81.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million during the quarter. During the same period in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts expect that Openlane will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction on Thursday, May 14th. The stock was 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 in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James P. Coyle sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president directly owned 58,512 shares in the company, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,972 shares of company stock valued at $4,018,932 in the last 90 days. Insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OPLN. Northcoast Research set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. Zacks Research raised Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Barclays raised their target price on Openlane from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Robert W. Baird set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a research report on Thursday, June 11th. One investment 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 stock. Based on data from MarketBeat, Openlane has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Openlane Profile

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.