Corient Private Wealth LP Invests $1.27 Million in Openlane $OPLN

Corient Private Wealth LP purchased a new stake in shares of Openlane (NYSE:OPLN) during the second quarter, Holdings Channel reports. The institutional investor purchased 30,828 shares of the company’s stock, valued at approximately $1,271,000.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Openlane in the second quarter worth approximately $660,070,000. Vanguard Group Inc. acquired a new position in Openlane in the 4th quarter valued at approximately $348,271,000. Bank of Montreal Can acquired a new position in Openlane in the 4th quarter valued at approximately $220,158,000. Dimensional Fund Advisors LP purchased a new stake in Openlane in the 4th quarter worth approximately $200,309,000. Finally, State Street Corp purchased a new stake in Openlane in the 4th quarter worth approximately $127,581,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Openlane Stock Up 1.7%

OPLN stock opened at $35.50 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. The company has a 50-day moving average of $37.97 and a two-hundred day moving average of $34.35. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -41.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The business had revenue of $554.60 million for the quarter. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, equities research analysts anticipate that Openlane will post 1.45 EPS for the current year.

Analyst Ratings Changes

OPLN has been the topic of several research analyst reports. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. Bank of America increased their price objective on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. Wall Street Zen downgraded Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays raised their price target on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Openlane currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Insider Activity

In related news, CEO Peter Kelly acquired 14,830 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the transaction, the chief executive officer owned 14,830 shares of the company’s stock, valued at approximately $500,067.60. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.22% of the company’s stock.

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.