Oliver Luxxe Assets LLC Reduces Holdings in Openlane $OPLN

Oliver Luxxe Assets LLC reduced its position in Openlane (NYSE:OPLN) by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,332 shares of the company’s stock after selling 40,796 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Openlane were worth $6,323,000 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. Hawk Ridge Capital Management LP raised its position in shares of Openlane by 72.5% in the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after buying an additional 2,087,200 shares during the last quarter. Nicholas Company Inc. acquired a new position in Openlane during the fourth quarter worth about $6,380,000. Comerica Bank purchased a new stake in Openlane during the 4th quarter valued at about $951,000. New York State Teachers Retirement System purchased a new stake in Openlane during the 4th quarter valued at about $2,152,000. Finally, Paradice Investment Management LLC purchased a new stake in Openlane during the 4th quarter valued at about $23,837,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OPLN has been the topic of a number of research reports. Barclays raised their target price on shares of Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird set a $40.00 price target on Openlane in a research report on Wednesday, May 6th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday. Bank of America lifted their price objective on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Insider Activity

In other news, 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 sale, the insider owned 15,914 shares in the company, valued at $573,540.56. This trade represents a 29.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.22% of the stock is owned by corporate insiders.

Openlane Trading Down 1.8%

Shares of OPLN opened at $36.95 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The firm has a 50-day moving average price of $39.21 and a 200 day moving average price of $33.60. The firm has a market capitalization of $4.54 billion, a P/E ratio of -43.47, a P/E/G ratio of 2.24 and a beta of 1.28.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $554.60 million for the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The firm’s revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Sell-side analysts forecast that Openlane will post 1.47 EPS for the current 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.