Vanguard Group Inc. Purchases 160,617 Shares of Open Lending Co. (NASDAQ:LPRO)

Vanguard Group Inc. raised its position in shares of Open Lending Co. (NASDAQ:LPRO) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 10,178,916 shares of the company’s stock after acquiring an additional 160,617 shares during the period. Vanguard Group Inc. owned 0.09% of Open Lending worth $60,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of Open Lending by 4.2% in the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock valued at $492,000 after purchasing an additional 3,309 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Open Lending in the fourth quarter valued at approximately $124,000. Sei Investments Co. grew its stake in shares of Open Lending by 5.6% during the fourth quarter. Sei Investments Co. now owns 562,480 shares of the company’s stock worth $3,358,000 after buying an additional 29,882 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Open Lending during the fourth quarter worth $54,000. Finally, Royce & Associates LP lifted its stake in shares of Open Lending by 61.3% in the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock valued at $4,639,000 after acquiring an additional 295,395 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Open Lending Price Performance

Shares of LPRO opened at $0.85 on Friday. The business has a 50-day moving average of $3.86 and a 200-day moving average of $5.18. Open Lending Co. has a 1 year low of $0.70 and a 1 year high of $6.97. The company has a market capitalization of $101.28 million, a price-to-earnings ratio of 28.29 and a beta of 1.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The firm had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. During the same quarter last year, the firm posted ($0.04) EPS. As a group, equities research analysts anticipate that Open Lending Co. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LPRO shares. DA Davidson reduced their price objective on Open Lending from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and lowered their price objective for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Needham & Company LLC dropped their price objective on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Citizens Jmp assumed coverage on shares of Open Lending in a report on Friday, April 4th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and a consensus price target of $4.62.

Open Lending Company 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.