State Board of Administration of Florida Retirement System Takes $73,000 Position in Open Lending Co. (NASDAQ:LPRO)

State Board of Administration of Florida Retirement System purchased a new stake in Open Lending Co. (NASDAQ:LPRO – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,873 shares of the company’s stock, valued at approximately $73,000.

A number of other large investors have also recently modified their holdings of the company. CWM LLC lifted its holdings in Open Lending by 4,634.9% during the fourth quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $27,000 after buying an additional 3,986 shares during the period. Signaturefd LLC acquired a new stake in Open Lending during the 4th quarter worth about $28,000. Point72 Hong Kong Ltd acquired a new stake in Open Lending during the 1st quarter worth about $41,000. Great West Life Assurance Co. Can acquired a new stake in Open Lending during the 3rd quarter worth about $47,000. Finally, TrinityPoint Wealth LLC acquired a new stake in Open Lending during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

LPRO has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Open Lending from $5.00 to $6.00 in a report on Thursday, May 11th. DA Davidson decreased their price objective on Open Lending from $18.00 to $12.00 and set a “buy” rating for the company in a report on Monday, February 27th. Canaccord Genuity Group cut their price target on Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st. Needham & Company LLC cut their price target on Open Lending from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, February 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Open Lending from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Open Lending presently has an average rating of “Moderate Buy” and an average target price of $12.33.

Open Lending Stock Down 2.6 %

Shares of NASDAQ LPRO opened at $9.73 on Wednesday. The stock has a market cap of $1.17 billion, a P/E ratio of 22.11 and a beta of 0.77. The company has a current ratio of 16.24, a quick ratio of 16.24 and a debt-to-equity ratio of 0.69. Open Lending Co. has a 12-month low of $5.35 and a 12-month high of $13.97. The business’s fifty day simple moving average is $7.48 and its 200-day simple moving average is $7.50.

Open Lending (NASDAQ:LPRO – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $38.36 million for the quarter, compared to analyst estimates of $32.19 million. Open Lending had a return on equity of 26.08% and a net margin of 33.36%. Open Lending’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities analysts predict that Open Lending Co. will post 0.36 EPS for the current fiscal year.

Open Lending Profile

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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.