Openlane (NYSE:OPLN) EVP Sells $14,496.12 in Stock

Openlane (NYSE:OPLN) EVP Charles Coleman sold 402 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $36.06, for a total transaction of $14,496.12. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at $2,680,484.04. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Price Performance

Shares of OPLN stock opened at $34.95 on Thursday. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90. The stock has a market cap of $4.24 billion, a PE ratio of -47.23, a PEG ratio of 1.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50 day moving average price is $35.95 and its two-hundred day moving average price is $34.37.

Openlane (NYSE:OPLN) last released its earnings results on Wednesday, November 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm 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 was up 12.6% on a year-over-year basis. As a group, analysts forecast that Openlane will post 1.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hawk Ridge Capital Management LP raised its holdings 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 purchasing an additional 2,087,200 shares during the period. Ranger Investment Management L.P. bought a new position in shares of Openlane during the second quarter worth $18,146,000. Prospect Capital Advisors LLC bought a new position in shares of Openlane during the first quarter worth $2,437,000. The Manufacturers Life Insurance Company acquired a new position in shares of Openlane in the 2nd quarter valued at $2,110,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Openlane by 290.6% in the 1st quarter. Quantinno Capital Management LP now owns 55,922 shares of the company’s stock valued at $1,630,000 after buying an additional 41,604 shares during the period. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

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

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.