Handelsbanken Fonder AB Takes $852,000 Position in Openlane $OPLN

Handelsbanken Fonder AB purchased a new stake in shares of Openlane (NYSE:OPLN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 28,625 shares of the company’s stock, valued at approximately $852,000.

A number of other hedge funds also recently made changes to their positions in OPLN. Salomon & Ludwin LLC bought a new stake in shares of Openlane during the fourth quarter valued at approximately $26,000. First Horizon Corp bought a new stake in shares of Openlane during the fourth quarter valued at approximately $27,000. Allworth Financial LP bought a new stake in shares of Openlane during the fourth quarter valued at approximately $38,000. Fifth Third Bancorp bought a new stake in shares of Openlane during the fourth quarter valued at approximately $40,000. Finally, North Star Investment Management Corp. bought a new stake in Openlane during the fourth quarter worth approximately $47,000. Institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling at Openlane

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total value of $708,701.18. Following the transaction, the executive vice president owned 74,334 shares in the company, valued at approximately $2,665,617.24. The trade was a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is owned by corporate insiders.

Openlane Stock Performance

Openlane stock opened at $36.95 on Thursday. 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 firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -36.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. Openlane has a 1 year low of $22.09 and a 1 year high of $38.52. The business has a 50 day simple moving average of $31.72.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, equities analysts predict that Openlane will post 1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OPLN has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $33.00 to $38.00 in a report on Wednesday. Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Northcoast Research set a $40.00 target price on Openlane in a report on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on Openlane in a report on Wednesday, May 6th. Finally, Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.