Bank of New York Mellon Corp Acquires 8,052 Shares of Open Lending Co. (NASDAQ:LPRO)

Bank of New York Mellon Corp boosted its holdings in Open Lending Co. (NASDAQ:LPRO) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,737 shares of the company’s stock after acquiring an additional 8,052 shares during the period. Bank of New York Mellon Corp’s holdings in Open Lending were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LPRO. Wasatch Advisors LP grew its holdings in Open Lending by 1.4% in the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after buying an additional 222,969 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Open Lending in the 3rd quarter valued at $1,153,000. Main Management ETF Advisors LLC acquired a new position in Open Lending in the 3rd quarter valued at $845,000. Barclays PLC grew its holdings in Open Lending by 363.5% in the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after buying an additional 132,561 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in Open Lending by 100.0% in the 3rd quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock valued at $1,224,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $3.70 in a report on Thursday. Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.39.

Open Lending Stock Up 5.8 %

Shares of NASDAQ:LPRO opened at $3.26 on Friday. The stock has a market cap of $389.08 million, a price-to-earnings ratio of 108.67 and a beta of 1.25. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 12-month low of $2.95 and a 12-month high of $7.47. The business’s 50 day moving average is $5.15 and its 200 day moving average is $5.65.

Open Lending Profile

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.