Legal & General Group Plc Buys New Holdings in Openlane $OPLN

by · The Cerbat Gem

Legal & General Group Plc bought a new stake in shares of Openlane (NYSE:OPLN – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 279,820 shares of the company’s stock, valued at approximately $8,333,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OPLN. Comerica Bank purchased a new stake in Openlane during the fourth quarter valued at about $951,000. Nicholas Company Inc. acquired a new position in shares of Openlane in the fourth quarter worth $6,380,000. New York State Teachers Retirement System acquired a new position in Openlane in the fourth quarter worth approximately $2,152,000. Paradice Investment Management LLC acquired a new position in Openlane in the fourth quarter worth approximately $23,837,000. Finally, Horizon Investments LLC acquired a new position in Openlane in the fourth quarter worth approximately $813,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Openlane Price Performance

NYSE:OPLN opened at $36.59 on Friday. Openlane has a fifty-two week low of $22.09 and a fifty-two week high of $38.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $3.88 billion, a PE ratio of -35.87, a PEG ratio of 1.88 and a beta of 1.27. The company’s 50-day simple moving average is $33.16.

Openlane (NYSE:OPLN – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts expect that Openlane will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

OPLN has been the topic of several analyst reports. Zacks Research upgraded 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 Openlane in a research report on Wednesday, May 6th. Barclays raised their target price on Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Northcoast Research set a $40.00 price objective on Openlane in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.00.

Check Out Our Latest Stock Report on OPLN

Insider Transactions at Openlane

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total transaction of $708,701.18. Following the transaction, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,665,617.24. The trade was a 21.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James P. Coyle sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the transaction, the executive vice president directly owned 58,512 shares in the company, valued at $2,092,974.24. This trade represents a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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 insiders.

Openlane Profile

(Free Report)

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.

See Also

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