Y Intercept Hong Kong Ltd Buys New Shares in Openlane $OPLN

Y Intercept Hong Kong Ltd bought a new position in Openlane (NYSE:OPLN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 84,979 shares of the company’s stock, valued at approximately $2,477,000. Y Intercept Hong Kong Ltd owned about 0.08% of Openlane at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC purchased a new stake in Openlane during the 4th quarter valued at about $26,000. First Horizon Corp purchased a new position in shares of Openlane in the fourth quarter worth about $27,000. Allworth Financial LP acquired a new stake in shares of Openlane during the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Openlane during the fourth quarter worth about $39,000. Finally, Fifth Third Bancorp purchased a new stake in Openlane in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Activity

In other news, EVP Charles S. Coleman sold 19,763 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total transaction of $708,701.18. Following the sale, the executive vice president directly owned 74,334 shares in the company, valued at $2,665,617.24. This trade represents a 21.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 111,972 shares of company stock valued at $4,018,932. Insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OPLN shares. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised 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 price objective on shares of Openlane in a research note on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Finally, Northcoast Research set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Openlane currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Openlane Price Performance

NYSE:OPLN opened at $41.10 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -40.30, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26. The company’s 50 day moving average price is $37.19. Openlane has a 1-year low of $24.10 and a 1-year high of $42.90.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 period last year, the company posted $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts anticipate 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.