Openlane (NYSE:OPLN) Insider William Clyde Mitchell Sells 6,500 Shares

Openlane (NYSE:OPLN) insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the completion of the transaction, the insider owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Openlane Stock Performance

NYSE OPLN opened at $34.89 on Friday. Openlane has a one year low of $21.84 and a one year high of $38.52. The firm has a 50 day simple moving average of $30.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -34.21, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22.

Openlane (NYSE:OPLN) last posted its quarterly earnings results 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 net margin of 9.47% and a return on equity of 13.00%. The firm had revenue of $527.90 million for the quarter. During the same quarter in the previous year, the business posted $0.31 EPS. 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. Sell-side analysts forecast that Openlane will post 1.3 EPS for the current fiscal year.

Institutional Trading of Openlane

A number of hedge funds have recently made changes to their positions in OPLN. Salomon & Ludwin LLC acquired a new stake in shares of Openlane during the fourth quarter worth approximately $26,000. First Horizon Corp bought a new position in Openlane during the fourth quarter worth $27,000. Allworth Financial LP bought a new position in Openlane during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. bought a new position in Openlane during the fourth quarter worth $39,000. Finally, Fifth Third Bancorp bought a new position in Openlane during the fourth quarter worth $40,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research report on Wednesday, May 6th. Northcoast Research set a $40.00 price objective on shares of Openlane in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, March 3rd. Stephens increased 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, Barclays increased 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. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.