Macquarie Group Ltd. Buys 10,134 Shares of Open Lending Co. (NASDAQ:LPRO)

Macquarie Group Ltd. grew its stake in shares of Open Lending Co. (NASDAQ:LPRO – Get Rating) by 17.0% during the third quarter, HoldingsChannel reports. The firm owned 69,904 shares of the company’s stock after purchasing an additional 10,134 shares during the quarter. Macquarie Group Ltd.’s holdings in Open Lending were worth $572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LPRO. Lazard Asset Management LLC lifted its holdings in Open Lending by 113.3% in the second quarter. Lazard Asset Management LLC now owns 2,701 shares of the company’s stock worth $27,000 after buying an additional 1,435 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Open Lending in the 1st quarter worth approximately $41,000. Great West Life Assurance Co. Can purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $47,000. D.A. Davidson & CO. bought a new stake in shares of Open Lending during the third quarter valued at approximately $81,000. Finally, Quantbot Technologies LP purchased a new stake in Open Lending in the third quarter worth $84,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Open Lending Stock Down 2.4 %

NASDAQ:LPRO opened at $6.57 on Monday. The firm has a 50-day simple moving average of $8.06 and a two-hundred day simple moving average of $7.85. Open Lending Co. has a fifty-two week low of $5.35 and a fifty-two week high of $20.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 18.58 and a current ratio of 18.58. The firm has a market cap of $812.38 million, a P/E ratio of 12.63 and a beta of 0.78.

Open Lending (NASDAQ:LPRO – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The firm had revenue of $26.82 million during the quarter, compared to analysts’ expectations of $34.51 million. Open Lending had a return on equity of 31.84% and a net margin of 37.10%. Open Lending’s revenue was down 48.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts predict that Open Lending Co. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LPRO has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 21st. JMP Securities reissued a “market outperform” rating and set a $10.00 price target on shares of Open Lending in a research report on Tuesday, January 31st. Needham & Company LLC dropped their price objective on shares of Open Lending from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 24th. Morgan Stanley decreased their target price on shares of Open Lending from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Friday, February 24th. Finally, Raymond James cut Open Lending from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $10.00 to $9.00 in a research report on Monday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.89.

About Open Lending

(Get Rating)

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.