First Horizon Advisors Inc. Grows Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

First Horizon Advisors Inc. increased its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 1,278.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654 shares of the company’s stock after acquiring an additional 1,534 shares during the quarter. First Horizon Advisors Inc.’s holdings in Open Lending were worth $136,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LPRO. Envestnet Asset Management Inc. acquired a new stake in Open Lending during the 2nd quarter worth $216,000. US Bancorp DE acquired a new stake in Open Lending during the 2nd quarter worth $58,000. Rhumbline Advisers acquired a new stake in Open Lending during the 2nd quarter worth $4,271,000. PNC Financial Services Group Inc. acquired a new position in Open Lending in the second quarter valued at $72,000. Finally, Nisa Investment Advisors LLC acquired a new position in Open Lending in the second quarter valued at $138,000. Hedge funds and other institutional investors own 80.02% of the company’s stock.

In other news, insider Ross M. Jessup sold 5,250 shares of the business’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $35.05, for a total value of $184,012.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Joseph Flynn sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $33.68, for a total transaction of $1,010,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 95,250 shares of company stock valued at $3,103,313. Company insiders own 25.96% of the company’s stock.

Shares of NASDAQ LPRO opened at $19.50 on Friday. Open Lending Co. has a 12-month low of $19.45 and a 12-month high of $44.00. The company has a market capitalization of $2.46 billion, a PE ratio of 33.05 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 9.71 and a quick ratio of 9.71. The firm’s 50-day moving average is $24.12 and its two-hundred day moving average is $32.56.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Tuesday, November 9th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $58.89 million during the quarter, compared to analyst estimates of $54.88 million. Open Lending had a net margin of 36.64% and a return on equity of 51.25%. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts forecast that Open Lending Co. will post 0.76 EPS for the current fiscal year.

A number of research firms have commented on LPRO. Morgan Stanley dropped their price objective on shares of Open Lending from $40.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, November 12th. DA Davidson dropped their price target on shares of Open Lending from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 12th. Needham & Company LLC dropped their price target on shares of Open Lending from $53.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 10th. JMP Securities decreased their price objective on shares of Open Lending from $40.00 to $37.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 10th. Finally, TheStreet downgraded shares of Open Lending from a “c-” rating to a “d+” rating in a report on Friday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.60.

Open Lending Company Profile

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.

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Institutional Ownership by Quarter for Open Lending (NASDAQ:LPRO)

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