Kestra Advisory Services LLC bought a new position in Open Lending Co. (NASDAQ:LPRO – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 198,487 shares of the company’s stock, valued at approximately $1,596,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. lifted its holdings in Open Lending by 3.8% in the 1st quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock worth $315,611,000 after purchasing an additional 603,411 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Open Lending by 9.3% during the first quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock worth $186,970,000 after buying an additional 838,752 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Open Lending by 55.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,399,688 shares of the company’s stock worth $65,469,000 after buying an additional 2,277,806 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its holdings in shares of Open Lending by 1.2% during the second quarter. Villere ST Denis J & Co. LLC now owns 2,577,084 shares of the company’s stock worth $26,363,000 after buying an additional 31,707 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Open Lending by 1.5% during the second quarter. State Street Corp now owns 2,356,052 shares of the company’s stock worth $24,102,000 after buying an additional 34,566 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LPRO has been the subject of a number of research analyst reports. Needham & Company LLC cut their price target on Open Lending from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, November 4th. DA Davidson cut their price target on Open Lending from $26.00 to $22.00 in a report on Tuesday, November 1st. Morgan Stanley cut their price target on Open Lending from $7.00 to $5.50 and set an “underweight” rating for the company in a report on Wednesday, October 19th. Raymond James lowered their price objective on Open Lending from $13.00 to $10.00 and set a “strong-buy” rating on the stock in a research report on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Open Lending from $16.00 to $10.00 in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.61.
Open Lending Stock Performance
Open Lending (NASDAQ:LPRO – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Open Lending had a return on equity of 50.39% and a net margin of 48.26%. The firm had revenue of $50.66 million for the quarter, compared to analysts’ expectations of $44.58 million. Sell-side analysts forecast that Open Lending Co. will post 0.67 EPS for the current year.
Open Lending Profile
Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.
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