Mirae Asset Global Investments Co. Ltd. Sells 65,303 Shares of Open Lending Co. (NASDAQ:LPRO)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Open Lending Co. (NASDAQ:LPROGet Rating) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,232 shares of the company’s stock after selling 65,303 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.24% of Open Lending worth $5,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wasatch Advisors Inc. increased its holdings in shares of Open Lending by 3.8% during the first quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock valued at $315,611,000 after acquiring an additional 603,411 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Open Lending by 9.3% during the first quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock valued at $186,970,000 after buying an additional 838,752 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Open Lending by 2.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,677,324 shares of the company’s stock valued at $50,628,000 after buying an additional 73,850 shares during the last quarter. Villere ST Denis J & Co. LLC boosted its position in shares of Open Lending by 9.0% during the first quarter. Villere ST Denis J & Co. LLC now owns 2,545,377 shares of the company’s stock valued at $48,133,000 after buying an additional 209,247 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Open Lending by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,874,558 shares of the company’s stock valued at $42,140,000 after buying an additional 76,819 shares during the last quarter. Institutional investors own 89.59% of the company’s stock.

Open Lending Stock Performance

Shares of LPRO opened at $8.84 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of 24.56 and a beta of 0.68. The stock’s fifty day moving average price is $10.29 and its two-hundred day moving average price is $12.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 18.48 and a quick ratio of 18.48. Open Lending Co. has a 1 year low of $8.66 and a 1 year high of $39.28.

Open Lending (NASDAQ:LPROGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $52.10 million for the quarter, compared to analyst estimates of $48.40 million. Open Lending had a return on equity of 26.40% and a net margin of 21.02%. The business’s revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts forecast that Open Lending Co. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LPRO. Deutsche Bank Aktiengesellschaft cut their target price on Open Lending from $18.00 to $16.00 in a research report on Thursday, July 28th. Stephens cut Open Lending from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $13.00 in a research report on Friday, August 5th. Morgan Stanley cut their price objective on Open Lending from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 3rd. Canaccord Genuity Group cut their price objective on Open Lending from $55.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Finally, DA Davidson cut their price objective on Open Lending from $32.00 to $26.00 in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.89.

Open Lending Company Profile

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Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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

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