15,864 Shares in Openlane $OPLN Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Openlane (NYSE:OPLN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,864 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also modified their holdings of OPLN. Yousif Capital Management LLC bought a new stake in shares of Openlane during the 4th quarter worth about $857,000. Smith Moore & CO. acquired a new stake in Openlane in the 4th quarter worth about $448,000. State of Alaska Department of Revenue acquired a new stake in Openlane in the 4th quarter worth about $2,211,000. Guidance Capital Inc. acquired a new stake in Openlane in the 4th quarter worth about $770,000. Finally, CWM LLC acquired a new stake in Openlane in the 4th quarter worth about $320,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OPLN. Northcoast Research upgraded shares of Openlane from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, March 30th. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Barclays lifted their price objective on shares of Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Openlane from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Openlane Trading Up 2.1%

Shares of Openlane stock opened at $32.15 on Tuesday. The stock’s 50 day moving average price is $29.03. Openlane has a 1-year low of $18.78 and a 1-year high of $32.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $3.40 billion, a P/E ratio of -27.01 and a beta of 1.22.

Openlane (NYSE:OPLN) last issued 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. Openlane had a net margin of 9.19% and a return on equity of 12.74%. The company had revenue of $527.90 million during the quarter. Research analysts forecast that Openlane will post 1.34 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP James P. Coyle sold 88,444 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $28.83, for a total value of $2,549,840.52. Following the completion of the transaction, the executive vice president owned 63,869 shares of the company’s stock, valued at $1,841,343.27. This represents a 58.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is currently owned by insiders.

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.