Openlane (NYSE:OPLN) EVP Charles Coleman Sells 38,094 Shares of Company Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 38,094 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $35.65, for a total transaction of $1,358,051.10. Following the transaction, the executive vice president directly owned 74,334 shares in the company, valued at $2,650,007.10. The trade was a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Openlane Stock Up 1.5%

Openlane stock opened at $34.87 on Tuesday. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The stock has a market cap of $4.28 billion, a PE ratio of -47.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.35. The firm’s 50-day simple moving average is $35.96 and its 200 day simple moving average is $34.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.16.

Openlane (NYSE:OPLN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $561.20 million during the quarter. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts predict that Openlane will post 1.49 EPS for the current fiscal year.

More Openlane News

Here are the key news stories impacting Openlane this week:

• Positive Sentiment: A recent article highlights raised earnings guidance as a potential reason to reassess OPENLANE’s investment outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus estimate, and revenue growth of 12.6% year over year. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
• Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct ownership by 62.29%. The filing says the sale was to cover tax withholding obligations tied to vested equity awards, which makes it less clearly a negative signal about the business. Openlane Stock: Insider James Coyle Sells 80,755 Shares
• Negative Sentiment: EVP Charles Coleman also reported selling 38,094 shares for about $1.36 million, a reduction of roughly one-third of his position. Insider sales can weigh on investor sentiment, although the reports do not give a reason for this sale. Openlane insider transaction report

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OPLN shares. Barclays boosted their target price on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Northcoast Research set a $50.00 price target on Openlane in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. Zacks Research lowered Openlane from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Hedge Funds Weigh In On Openlane

Several institutional investors have recently added to or reduced their stakes in OPLN. BlackRock Inc. purchased a new stake in Openlane during the second quarter worth about $660,070,000. Hawk Ridge Capital Management LP raised its position in Openlane by 72.5% in the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock worth $144,792,000 after acquiring an additional 2,087,200 shares during the period. Park West Asset Management LLC purchased a new position in Openlane in the second quarter valued at about $46,368,000. Bank of New York Mellon Corp purchased a new position in Openlane in the second quarter valued at about $32,668,000. Finally, Kimelman & Baird LLC purchased a new position in Openlane in the second quarter valued at about $31,447,000. Institutional investors own 99.76% of the company’s stock.

About Openlane

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.