Prospect Capital Advisors LLC Buys Shares of 83,600 Openlane $OPLN

Prospect Capital Advisors LLC bought a new position in Openlane (NYSE:OPLN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,600 shares of the company’s stock, valued at approximately $2,437,000. Openlane comprises about 1.3% of Prospect Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Openlane by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock valued at $162,000 after buying an additional 353 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in Openlane in the fourth quarter worth approximately $26,000. First Horizon Corp bought a new position in Openlane during the fourth quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in Openlane in the fourth quarter valued at approximately $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Openlane in the fourth quarter valued at approximately $39,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OPLN. Northcoast Research set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Barclays upped their price objective on shares of Openlane from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Robert W. Baird set a $40.00 price target on Openlane in a research report on Wednesday, May 6th. Finally, Bank of America upped their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Openlane Stock Down 1.8%

Shares of NYSE:OPLN opened at $39.79 on Friday. The company has a market cap of $4.22 billion, a P/E ratio of -39.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.26. The firm’s 50 day simple moving average is $39.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a twelve month low of $24.10 and a twelve month high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $527.90 million for the quarter. During the same quarter last year, the company earned $0.31 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Analysts anticipate that Openlane will post 1.4 EPS for the current year.

Insider Activity

In related news, EVP James P. Coyle sold 15,000 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the sale, the executive vice president owned 58,512 shares in the company, valued at $2,092,974.24. This trade represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider directly owned 15,914 shares of the company’s stock, valued at $573,540.56. This represents a 29.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,972 shares of company stock worth $4,018,932 over the last 90 days. 2.22% of the stock is currently owned by company insiders.

Openlane 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.