Arizona State Retirement System Has $204,000 Position in Open Lending Co. (NASDAQ:LPRO)

Arizona State Retirement System lifted its holdings in Open Lending Co. (NASDAQ:LPRO – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,275 shares of the company’s stock after buying an additional 1,120 shares during the period. Arizona State Retirement System’s holdings in Open Lending were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wasatch Advisors Inc. grew its stake in Open Lending by 3.8% during the 1st quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock valued at $315,611,000 after acquiring an additional 603,411 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Open Lending by 70.7% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 10,921,736 shares of the company’s stock valued at $87,812,000 after buying an additional 4,522,048 shares during the period. Vanguard Group Inc. lifted its position in Open Lending by 9.3% in the 1st 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 in the last quarter. BlackRock Inc. grew its holdings in shares of Open Lending by 11.9% during the 3rd quarter. BlackRock Inc. now owns 7,609,797 shares of the company’s stock valued at $61,182,000 after acquiring an additional 807,200 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Open Lending by 2.9% in the third quarter. State Street Corp now owns 2,424,903 shares of the company’s stock worth $19,496,000 after acquiring an additional 68,851 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Open Lending Stock Up 1.1 %

Shares of LPRO opened at $9.84 on Thursday. The firm has a market cap of $1.19 billion, a P/E ratio of 22.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 16.24 and a current ratio of 16.24. Open Lending Co. has a 52 week low of $5.35 and a 52 week high of $13.97. The firm’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $7.52.

Open Lending (NASDAQ:LPRO – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 33.36% and a return on equity of 26.08%. The business’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. On average, analysts forecast that Open Lending Co. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LPRO. Morgan Stanley boosted their price target on Open Lending from $5.00 to $6.00 in a research note on Thursday, May 11th. William Blair reiterated an “outperform” rating on shares of Open Lending in a report on Wednesday, May 10th. JMP Securities restated a “market outperform” rating and set a $10.00 target price on shares of Open Lending in a report on Tuesday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on Open Lending from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, February 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.33.

Open Lending Company 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.