Handelsbanken Fonder AB Takes Position in Openlane $OPLN

Handelsbanken Fonder AB bought a new stake in shares of Openlane (NYSE:OPLN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,625 shares of the company’s stock, valued at approximately $852,000.

Several other large investors also recently modified their holdings of OPLN. Vanguard Group Inc. acquired a new stake in shares of Openlane during the fourth quarter valued at about $348,271,000. Kimelman & Baird LLC acquired a new stake in shares of Openlane during the fourth quarter valued at about $24,117,000. Paradice Investment Management LLC acquired a new stake in shares of Openlane during the fourth quarter valued at about $23,837,000. Gamco Investors INC. ET AL acquired a new stake in shares of Openlane during the fourth quarter valued at about $13,461,000. Finally, M&T Bank Corp acquired a new stake in shares of Openlane during the fourth quarter valued at about $11,642,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OPLN. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Robert W. Baird set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Northcoast Research set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Openlane currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Openlane Stock Up 3.4%

Shares of OPLN stock opened at $36.95 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day moving average of $31.72. Openlane has a 52 week low of $22.09 and a 52 week high of $38.52. The firm has a market capitalization of $3.91 billion, a P/E ratio of -36.23, a P/E/G ratio of 1.85 and a beta of 1.22.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, May 5th. The company reported $0.35 EPS 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 company had revenue of $527.90 million during the quarter. During the same quarter in the previous year, the firm 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 expect that Openlane will post 1.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Openlane news, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president directly owned 58,512 shares in the company, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total value of $708,701.18. Following the completion of the transaction, the executive vice president owned 74,334 shares of the company’s stock, valued at approximately $2,665,617.24. The trade was a 21.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is currently owned by insiders.

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.