First Trust Advisors LP Acquires 12,555 Shares of Openlane $OPLN

First Trust Advisors LP increased its holdings in Openlane (NYSE:OPLN) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 406,642 shares of the company’s stock after buying an additional 12,555 shares during the quarter. First Trust Advisors LP’s holdings in Openlane were worth $11,854,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new stake in Openlane during the fourth quarter valued at approximately $348,271,000. Bank of Montreal Can bought a new position in Openlane in the fourth quarter worth approximately $220,158,000. Dimensional Fund Advisors LP bought a new position in Openlane in the fourth quarter worth approximately $200,309,000. State Street Corp purchased a new position in shares of Openlane during the 4th quarter worth $127,581,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Openlane during the 4th quarter worth $103,876,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Stock Performance

Shares of NYSE OPLN opened at $40.54 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $4.30 billion, a P/E ratio of -39.75, a P/E/G ratio of 2.25 and a beta of 1.26. The company has a fifty day moving average of $38.92. Openlane has a 52-week low of $24.10 and a 52-week high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping 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 business had revenue of $527.90 million for the quarter. During the same quarter in the previous year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts forecast that Openlane will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on OPLN. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Northcoast Research set a $40.00 target price on Openlane in a research report on Wednesday, May 6th. Bank of America boosted their price target on Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Insider Transactions at Openlane

In related news, insider William Clyde Mitchell sold 6,500 shares of the business’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 sale, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tobin P. Richer sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $38.31, for a total value of $153,240.00. Following the transaction, the executive vice president directly owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. The trade was a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is owned by company insiders.

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.