Fifth Third Bancorp Boosts Stock Position in Openlane $OPLN

Fifth Third Bancorp increased its holdings in Openlane (NYSE:OPLN) by 2,495.1% during the 1st quarter, HoldingsChannel reports. The firm owned 35,163 shares of the company’s stock after buying an additional 33,808 shares during the period. Fifth Third Bancorp’s holdings in Openlane were worth $1,025,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in shares of Openlane during the 4th quarter valued at about $26,000. First Horizon Corp purchased a new position in Openlane in the fourth quarter worth about $27,000. Allworth Financial LP bought a new stake in Openlane during the fourth quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new stake in Openlane during the fourth quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Openlane during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on OPLN. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays raised their price target on Openlane from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Openlane in a research note on Thursday, June 11th. Finally, Bank of America boosted their price objective on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Insider Activity

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $36.04, for a total value 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 trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles S. Coleman sold 19,763 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total value of $708,701.18. Following the sale, the executive vice president owned 74,334 shares in the company, valued at $2,665,617.24. The trade was a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 111,972 shares of company stock worth $4,018,932. Insiders own 2.22% of the company’s stock.

Openlane Price Performance

Openlane stock opened at $39.30 on Friday. The firm has a 50-day moving average of $38.49. The stock has a market cap of $4.16 billion, a PE ratio of -38.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26. Openlane has a 1 year low of $24.10 and a 1 year high of $42.90. 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 (NYSE:OPLN) last issued its 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 business had revenue of $527.90 million during the quarter. During the same period last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts expect that Openlane will post 1.31 earnings per share for the current year.

Openlane Company 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.