279,820 Shares in Openlane $OPLN Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Openlane (NYSE:OPLN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 279,820 shares of the company’s stock, valued at approximately $8,333,000. Legal & General Group Plc owned 0.26% of Openlane at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank bought a new position in Openlane in the 4th quarter worth about $951,000. Nicholas Company Inc. bought a new position in Openlane during the fourth quarter valued at about $6,380,000. New York State Teachers Retirement System bought a new stake in Openlane during the fourth quarter worth approximately $2,152,000. Paradice Investment Management LLC bought a new stake in Openlane during the fourth quarter worth approximately $23,837,000. Finally, Horizon Investments LLC bought a new stake in Openlane during the fourth quarter worth approximately $813,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OPLN has been the subject of several research analyst reports. Robert W. Baird set a $40.00 price target on shares of Openlane in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Northcoast Research set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Finally, Barclays raised their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Transactions at Openlane

In other news, EVP Tobin P. Richer sold 66,709 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $2,386,180.93. Following the transaction, the executive vice president owned 28,697 shares of the company’s stock, valued at $1,026,491.69. This trade represents a 69.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction dated 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 directly owned 15,914 shares in the company, valued at $573,540.56. This trade represents a 29.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,972 shares of company stock worth $4,018,932 in the last ninety days. Insiders own 2.22% of the company’s stock.

Openlane Price Performance

Openlane stock opened at $36.59 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a one year low of $22.09 and a one year high of $38.82. The stock has a market capitalization of $3.88 billion, a PE ratio of -35.87, a PEG ratio of 1.88 and a beta of 1.27. The firm’s fifty day simple moving average is $33.16.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company had revenue of $527.90 million for the quarter. During the same period last year, the business earned $0.31 earnings per share. The company’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. As a group, sell-side analysts expect that Openlane will post 1.31 EPS for the current fiscal year.

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.