Legato Capital Management LLC Purchases New Shares in Openlane $OPLN

Legato Capital Management LLC purchased a new stake in Openlane (NYSE:OPLN) during the 4th quarter, HoldingsChannel reports. The firm purchased 18,618 shares of the company’s stock, valued at approximately $554,000.

Several other large investors have also added to or reduced their stakes in OPLN. Vanguard Group Inc. bought a new stake in Openlane in the fourth quarter valued at $348,271,000. Kimelman & Baird LLC bought a new stake in Openlane in the fourth quarter valued at $24,117,000. Paradice Investment Management LLC bought a new stake in Openlane in the fourth quarter valued at $23,837,000. Gamco Investors INC. ET AL bought a new stake in Openlane in the fourth quarter valued at $13,461,000. Finally, M&T Bank Corp bought a new stake in Openlane in the fourth quarter valued at $11,642,000. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

OPLN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird set a $40.00 target price on shares of Openlane in a report on Wednesday, May 6th. Northcoast Research set a $40.00 target price on shares of Openlane in a report on Wednesday, May 6th. Finally, Barclays boosted their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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 value of $234,260.00. Following the transaction, the insider owned 15,914 shares in the company, valued at $573,540.56. The trade was a 29.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James P. Coyle sold 15,000 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 $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares in the company, valued at approximately $2,092,974.24. The trade was a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is currently owned by company insiders.

Openlane Trading Up 0.7%

Shares of OPLN stock opened at $35.66 on Wednesday. Openlane has a 12 month low of $22.09 and a 12 month high of $38.52. The company has a market cap of $3.78 billion, a PE ratio of -34.96, a PEG ratio of 1.83 and a beta of 1.22. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $31.53.

Openlane (NYSE:OPLN) last announced 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. The firm 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 quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts forecast that Openlane will post 1.3 earnings per share for the current fiscal year.

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.