Thrivent Financial for Lutherans Takes Position in Openlane $OPLN

Thrivent Financial for Lutherans bought a new stake in shares of Openlane (NYSE:OPLN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,017 shares of the company’s stock, valued at approximately $2,174,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Openlane during the 4th quarter valued at about $348,271,000. Paradice Investment Management LLC purchased a new stake in shares of Openlane during the 4th quarter valued at about $23,837,000. M&T Bank Corp purchased a new stake in shares of Openlane during the 4th quarter valued at about $11,642,000. Nicholas Company Inc. purchased a new stake in shares of Openlane during the 4th quarter valued at about $6,380,000. Finally, UBS Group AG purchased a new stake in shares of Openlane during the 4th quarter valued at about $2,582,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Openlane Trading Down 0.0%

Shares of NYSE:OPLN opened at $35.40 on Tuesday. The company has a market cap of $3.75 billion, a P/E ratio of -34.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22. Openlane has a 12 month low of $21.84 and a 12 month high of $38.52. The firm’s 50-day moving average price is $31.37. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, equities analysts forecast that Openlane will post 1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OPLN. Barclays upped their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Northcoast Research set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Activity

In related news, insider William Clyde Mitchell sold 6,500 shares of the company’s 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 in the company, valued at approximately $573,540.56. This represents a 29.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tobin P. Richer sold 66,709 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the completion of the transaction, the executive vice president owned 28,697 shares in the company, valued at $1,026,491.69. This represents a 69.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 111,972 shares of company stock valued at $4,018,932. 2.22% of the stock is currently owned by company insiders.

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.