Openlane $OPLN Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Openlane (NYSE:OPLN) by 1,319.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 102,200 shares of the company’s stock after acquiring an additional 95,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Openlane worth $3,488,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of OPLN. BlackRock Inc. purchased a new stake in shares of Openlane during the 2nd quarter valued at $660,070,000. Hawk Ridge Capital Management LP boosted its stake in Openlane by 72.5% in the 1st 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 during the period. Park West Asset Management LLC bought a new position in shares of Openlane in the second quarter valued at approximately $46,368,000. Sunriver Management LLC grew its position in shares of Openlane by 1.3% during the 1st quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock valued at $44,255,000 after purchasing an additional 19,634 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Openlane by 7.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company’s stock worth $36,474,000 after buying an additional 86,986 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Openlane Trading Up 1.3%

OPLN stock opened at $39.52 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $4.85 billion, a PE ratio of -46.49, a price-to-earnings-growth ratio of 1.77 and a beta of 1.28. The company’s 50 day moving average price is $35.81 and its two-hundred day moving average price is $34.21. Openlane has a one year low of $24.32 and a one year high of $42.90.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business 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. As a group, analysts predict that Openlane will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on OPLN shares. Northcoast Research set a $50.00 price objective on shares of Openlane in a research report on Wednesday, August 5th. Barclays lifted their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America boosted their price target on shares of Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Zacks Research downgraded shares of Openlane from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Openlane presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Insider Activity

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

About Openlane

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.