Sei Investments Co. Lowers Stock Position in Openlane $OPLN

Sei Investments Co. lessened its stake in Openlane (NYSE:OPLN) by 40.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 134,458 shares of the company’s stock after selling 93,091 shares during the quarter. Sei Investments Co.’s holdings in Openlane were worth $3,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lido Advisors LLC grew its position in Openlane by 14.3% in the first quarter. Lido Advisors LLC now owns 12,897 shares of the company’s stock worth $376,000 after acquiring an additional 1,614 shares in the last quarter. State of Wyoming lifted its stake in Openlane by 8.9% during the first quarter. State of Wyoming now owns 35,787 shares of the company’s stock worth $1,043,000 after purchasing an additional 2,931 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Openlane in the 1st quarter worth about $207,000. Measured Wealth Private Client Group LLC increased its position in shares of Openlane by 67.9% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 22,386 shares of the company’s stock valued at $653,000 after purchasing an additional 9,053 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Openlane by 3.2% during the 1st quarter. First Trust Advisors LP now owns 406,642 shares of the company’s stock valued at $11,854,000 after buying an additional 12,555 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on OPLN shares. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, May 27th. Robert W. Baird set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Barclays lifted their price target on shares of Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, Bank of America increased their target price on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.83.

Openlane Trading Down 1.7%

NYSE OPLN opened at $37.57 on Friday. The firm has a market cap of $4.61 billion, a PE ratio of -44.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28. Openlane has a 1-year low of $24.32 and a 1-year high of $42.90. The stock has a 50-day moving average of $39.24 and a 200-day moving average of $33.58. 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 (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $554.60 million for the quarter. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, sell-side analysts forecast that Openlane will post 1.47 EPS for the current year.

Insider Buying and Selling at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of the 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 completion of the sale, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.22% of the company’s stock.

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.