Tobin Richer Sells 4,000 Shares of Openlane (NYSE:OPLN) Stock

Openlane (NYSE:OPLN) EVP Tobin Richer sold 4,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the sale, the executive vice president directly owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Openlane Stock Performance

Openlane stock traded down $0.86 during trading on Monday, reaching $37.03. 1,024,195 shares of the company’s stock were exchanged, compared to its average volume of 855,214. The business’s 50-day simple moving average is $29.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a 52-week low of $21.84 and a 52-week high of $38.52. The company has a market cap of $3.92 billion, a price-to-earnings ratio of -36.30 and a beta of 1.22.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Analysts anticipate that Openlane will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Openlane

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position 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 purchasing an additional 353 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Openlane by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 54,740 shares of the company’s stock worth $1,596,000 after purchasing an additional 2,079 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Openlane by 2.0% during the first quarter. Principal Financial Group Inc. now owns 516,406 shares of the company’s stock worth $15,053,000 after purchasing an additional 9,994 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Openlane by 2,495.1% during the first quarter. Fifth Third Bancorp now owns 35,163 shares of the company’s stock worth $1,025,000 after purchasing an additional 33,808 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in shares of Openlane by 35.9% during the first quarter. Equitable Trust Co. now owns 17,220 shares of the company’s stock worth $502,000 after purchasing an additional 4,552 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on OPLN. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Barclays upped their price objective on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, March 3rd. Stephens upped their price objective on shares of Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Robert W. Baird set a $40.00 price objective on shares of Openlane in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned 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 $38.00.

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.