Wasatch Advisors LP Purchases 546,166 Shares of Open Lending Co. (NASDAQ:LPRO)

Wasatch Advisors LP boosted its position in Open Lending Co. (NASDAQ:LPRO) by 3.5% in the 1st quarter, HoldingsChannel reports. The firm owned 16,094,115 shares of the company’s stock after acquiring an additional 546,166 shares during the period. Wasatch Advisors LP owned approximately 0.14% of Open Lending worth $100,749,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LPRO. Victory Capital Management Inc. boosted its stake in shares of Open Lending by 27.3% during the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after acquiring an additional 2,971 shares during the period. Aigen Investment Management LP bought a new position in shares of Open Lending in the fourth quarter valued at about $121,000. Russell Investments Group Ltd. lifted its stake in shares of Open Lending by 15.9% during the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after buying an additional 2,090 shares during the last quarter. Austin Wealth Management LLC acquired a new position in Open Lending in the 3rd quarter valued at about $114,000. Finally, Chicago Partners Investment Group LLC raised its holdings in Open Lending by 25.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company’s stock valued at $213,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

LPRO stock traded down $0.01 during midday trading on Tuesday, reaching $5.55. The company had a trading volume of 323,704 shares, compared to its average volume of 474,771. Open Lending Co. has a 1-year low of $4.57 and a 1-year high of $11.73. The stock has a 50 day moving average price of $5.94 and a 200-day moving average price of $6.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.14 and a quick ratio of 13.14. The company has a market capitalization of $661.39 million, a price-to-earnings ratio of 50.46 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Open Lending had a net margin of 13.31% and a return on equity of 6.87%. The firm had revenue of $30.75 million during the quarter, compared to the consensus estimate of $28.65 million. During the same period in the prior year, the business earned $0.10 earnings per share. Open Lending’s quarterly revenue was down 19.9% compared to the same quarter last year. Equities research analysts expect that Open Lending Co. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BTIG Research assumed coverage on Open Lending in a report on Friday, June 7th. They set a “neutral” rating for the company. JMP Securities restated a “market outperform” rating and issued a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Needham & Company LLC lowered their price objective on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Raymond James reissued an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a research report on Tuesday, March 26th. Finally, Canaccord Genuity Group lowered their price target on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.79.

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.