Openlane $OPLN Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. trimmed its stake in Openlane (NYSE:OPLN) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 790,826 shares of the company’s stock after selling 209,436 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.64% of Openlane worth $26,991,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Openlane during the 2nd quarter worth about $660,070,000. Hawk Ridge Capital Management LP lifted its stake in shares of Openlane by 72.5% during the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after buying an additional 2,087,200 shares during the period. Park West Asset Management LLC acquired a new stake in Openlane during the second quarter worth approximately $46,368,000. Bank of New York Mellon Corp acquired a new stake in Openlane during the second quarter worth approximately $32,668,000. Finally, Kimelman & Baird LLC purchased a new stake in Openlane in the 2nd quarter worth approximately $31,447,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Stock Up 1.0%

Shares of NYSE:OPLN traded up $0.34 during midday trading on Friday, hitting $35.08. 589,385 shares of the company’s stock traded hands, compared to its average volume of 1,022,194. The firm’s fifty day moving average price is $35.95 and its two-hundred day moving average price is $34.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The company has a market cap of $4.26 billion, a PE ratio of -47.41, a P/E/G ratio of 1.55 and a beta of 1.35.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $561.20 million during the quarter. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Openlane will post 1.49 EPS for the current fiscal year.

Trending Headlines about Openlane

These are some of the OPLN headlines that stood out recently:

• Positive Sentiment: In its latest reported quarter, Openlane posted earnings of $0.43 per share, beating the $0.39 consensus estimate, while revenue rose 12.6% year over year to $561.2 million.
• Negative Sentiment: Several executives and a director sold shares: EVP Charles Coleman sold 38,769 shares, and a separate filing reported another 1,207-share sale; EVP Tobin Richer sold 3,458 shares; and director Michael Kestner sold 8,000 shares, reducing his position by 73.25%. Multiple insider sales can raise concerns about management and director confidence, though sales alone do not establish their reasons. Insider sale details

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OPLN. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays increased their price objective on shares of Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research cut shares of Openlane from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Finally, Northcoast Research set a $50.00 target price on Openlane in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.83.

Insiders Place Their Bets

In related news, CEO Peter J. Kelly purchased 14,830 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the acquisition, the chief executive officer owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James P. Coyle sold 80,755 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $35.21, for a total transaction of $2,843,383.55. Following the completion of the sale, the executive vice president directly owned 48,884 shares in the company, valued at approximately $1,721,205.64. This trade represents a 62.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 170,685 shares of company stock worth $6,027,636. Corporate insiders own 2.22% of the company’s stock.

About Openlane

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels. The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.