Open Lending Co. (NASDAQ:LPRO) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its position in Open Lending Co. (NASDAQ:LPRO – Get Rating) by 16.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 601,820 shares of the company’s stock after acquiring an additional 83,944 shares during the period. Raymond James & Associates’ holdings in Open Lending were worth $4,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Open Lending Price Performance

LPRO stock opened at $9.84 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 22.36 and a beta of 0.77. Open Lending Co. has a twelve month low of $5.35 and a twelve month high of $13.97. The business has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $7.52. 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 (NASDAQ:LPRO – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $38.36 million during the quarter, compared to the consensus estimate of $32.19 million. Open Lending had a return on equity of 26.08% and a net margin of 33.36%. The company’s revenue was down 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, equities analysts anticipate that Open Lending Co. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LPRO. JMP Securities reaffirmed a “market outperform” rating and set a $10.00 target price on shares of Open Lending in a research note on Tuesday, January 31st. Needham & Company LLC lowered their target price 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. Canaccord Genuity Group decreased their target price on shares of Open Lending from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. William Blair reissued an “outperform” rating on shares of Open Lending in a research note on Wednesday, May 10th. Finally, Raymond James lowered shares of Open Lending from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $10.00 to $9.00 in a research note on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.