Sanctuary Advisors LLC Makes New $768,000 Investment in Openlane $OPLN

Sanctuary Advisors LLC acquired a new position in shares of Openlane (NYSE:OPLN) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 18,632 shares of the company’s stock, valued at approximately $768,000.

Several other institutional investors also recently modified their holdings of OPLN. 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 purchasing an additional 475 shares in the last quarter. Allworth Financial LP acquired a new stake in Openlane during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in Openlane during the fourth quarter worth $39,000. Fifth Third Bancorp bought a new stake in Openlane in the 4th quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Openlane in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Stock Performance

Shares of NYSE:OPLN opened at $35.11 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The business’s fifty day moving average price is $38.42 and its two-hundred day moving average price is $34.13. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -41.31, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The company had revenue of $554.60 million for the quarter. The business’s revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, analysts predict that Openlane will post 1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Peter J. Kelly acquired 14,830 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was bought 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 owned 14,830 shares in the company, valued at approximately $500,067.60. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

OPLN has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Openlane in a research report on Thursday, June 11th. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. Finally, Bank of America raised 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Openlane currently has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane Company 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.