Open Lending (NASDAQ:LPRO) Insider Purchases $60,800.00 in Stock

Open Lending Corporation (NASDAQ:LPRO) insider Matthew Sather acquired 40,000 shares of Open Lending stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $1.52 per share, with a total value of $60,800.00. Following the completion of the purchase, the insider owned 44,363 shares in the company, valued at approximately $67,431.76. This represents a 916.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Open Lending Trading Up 7.8%

Shares of Open Lending stock traded up $0.12 on Friday, reaching $1.65. 673,188 shares of the company were exchanged, compared to its average volume of 1,398,636. Open Lending Corporation has a fifty-two week low of $0.70 and a fifty-two week high of $6.75. The firm has a market capitalization of $195.01 million, a price-to-earnings ratio of -1.32 and a beta of 1.97. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74. The stock has a fifty day moving average price of $1.92 and a 200-day moving average price of $2.05.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $24.17 million during the quarter, compared to analysts’ expectations of $22.15 million. On average, analysts expect that Open Lending Corporation will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Open Lending

Several institutional investors have recently made changes to their positions in LPRO. R Squared Ltd increased its holdings in Open Lending by 49.3% in the third quarter. R Squared Ltd now owns 21,543 shares of the company’s stock worth $45,000 after buying an additional 7,111 shares during the last quarter. Rhumbline Advisers grew its position in Open Lending by 6.4% in the second quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock worth $310,000 after acquiring an additional 9,590 shares in the last quarter. Savant Capital LLC grew its position in Open Lending by 16.1% in the third quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock worth $159,000 after acquiring an additional 10,452 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Open Lending by 10.9% during the 1st quarter. Federated Hermes Inc. now owns 108,024 shares of the company’s stock worth $298,000 after purchasing an additional 10,645 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Open Lending by 84.0% during the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after purchasing an additional 10,812 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $2.80 price target (up previously from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Citigroup reissued a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a report on Wednesday, October 8th. Canaccord Genuity Group decreased their target price on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. Finally, DA Davidson reissued a “buy” rating and set a $4.00 price target on shares of Open Lending in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Open Lending has an average rating of “Hold” and a consensus target price of $2.92.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.