Wasatch Advisors LP grew its holdings in shares of Open Lending Corporation (NASDAQ:LPRO – Free Report) by 11.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,054,107 shares of the company’s stock after buying an additional 716,509 shares during the period. Wasatch Advisors LP owned 5.99% of Open Lending worth $8,818,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Prudential Financial Inc. purchased a new position in Open Lending during the 2nd quarter valued at about $28,000. D.A. Davidson & CO. bought a new stake in Open Lending during the fourth quarter worth about $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in Open Lending in the first quarter worth about $43,000. R Squared Ltd grew its holdings in Open Lending by 32.7% in the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Open Lending during the second quarter valued at approximately $44,000. 78.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LPRO has been the subject of several recent research reports. DA Davidson reiterated a “neutral” rating and set a $3.15 target price (up from $3.00) on shares of Open Lending in a report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. Northland Securities set a $3.15 price objective on Open Lending in a research report on Wednesday, June 17th. Wall Street Zen cut Open Lending from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $2.00 target price on shares of Open Lending in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.77.
Open Lending Stock Performance
Shares of LPRO stock opened at $3.12 on Friday. The company has a market capitalization of $367.16 million, a price-to-earnings ratio of -78.00 and a beta of 2.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44. Open Lending Corporation has a one year low of $1.17 and a one year high of $3.13. The company’s 50-day moving average is $2.16 and its 200 day moving average is $1.78.
Open Lending (NASDAQ:LPRO – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.01). The firm had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%. Sell-side analysts expect that Open Lending Corporation will post 0.08 EPS for the current fiscal year.
About Open Lending
Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.
The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.
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