CenterBook Partners LP Makes New Investment in Openlane $OPLN

CenterBook Partners LP purchased a new position in shares of Openlane (NYSE:OPLN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,805 shares of the company’s stock, valued at approximately $828,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in shares of Openlane during the 4th quarter worth $26,000. First Horizon Corp purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $27,000. Allworth Financial LP purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $39,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $40,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Openlane Price Performance

Shares of NYSE:OPLN opened at $36.70 on Thursday. Openlane has a 12 month low of $22.09 and a 12 month high of $38.82. The company has a market capitalization of $3.89 billion, a PE ratio of -35.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.27. The business’s 50 day moving average price is $33.75. 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 announced its earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $0.31 EPS. Openlane’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. On average, sell-side analysts expect that Openlane will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OPLN shares. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Northcoast Research set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $33.00 to $38.00 in a report on Wednesday, May 27th. Finally, Barclays raised their target price on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

Insider Buying and Selling at Openlane

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the transaction, the insider owned 15,914 shares in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total transaction of $708,701.18. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at approximately $2,665,617.24. This trade represents a 21.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is owned by corporate 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.