State of Wyoming Acquires New Stake in Openlane $OPLN

State of Wyoming acquired a new stake in shares of Openlane (NYSE:OPLN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,856 shares of the company’s stock, valued at approximately $978,000.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank purchased a new stake in Openlane during the fourth quarter valued at $951,000. Nicholas Company Inc. purchased a new stake in Openlane during the fourth quarter valued at $6,380,000. New York State Teachers Retirement System purchased a new stake in Openlane during the fourth quarter valued at $2,152,000. Paradice Investment Management LLC bought a new stake in Openlane during the fourth quarter valued at about $23,837,000. Finally, Horizon Investments LLC bought a new stake in Openlane during the fourth quarter valued at about $813,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insiders Place Their Bets

In related news, EVP James P. Coyle sold 15,000 shares of the 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 sale, the executive vice president owned 58,512 shares in the company, valued at approximately $2,092,974.24. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tobin P. Richer sold 4,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.31, for a total value of $153,240.00. Following the sale, the executive vice president owned 24,697 shares of the company’s stock, valued at $946,142.07. This represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on OPLN shares. Barclays boosted their price target on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird set a $40.00 price target on Openlane in a report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Openlane presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Openlane Stock Performance

NYSE:OPLN opened at $36.81 on Thursday. The firm’s 50-day moving average is $32.78. Openlane has a 52-week low of $22.09 and a 52-week high of $38.82. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.08, a PEG ratio of 1.96 and a beta of 1.27.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $527.90 million during the quarter. During the same period in the prior year, the firm posted $0.31 EPS. The business’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. Equities analysts forecast that Openlane will post 1.31 earnings per share for the current fiscal year.

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.