SG Americas Securities LLC Buys 10,159 Shares of Open Lending Co. (NASDAQ:LPRO)

SG Americas Securities LLC increased its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 58.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,631 shares of the company’s stock after purchasing an additional 10,159 shares during the period. SG Americas Securities LLC’s holdings in Open Lending were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPRO. Envestnet Asset Management Inc. boosted its position in shares of Open Lending by 35.2% during the first quarter. Envestnet Asset Management Inc. now owns 13,080 shares of the company’s stock worth $247,000 after acquiring an additional 3,405 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Open Lending by 13.8% during the first quarter. JPMorgan Chase & Co. now owns 99,128 shares of the company’s stock worth $1,874,000 after acquiring an additional 11,996 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Open Lending by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 442,326 shares of the company’s stock worth $8,364,000 after acquiring an additional 35,025 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Open Lending by 51.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock worth $89,000 after acquiring an additional 1,591 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Open Lending by 55.1% during the first quarter. MetLife Investment Management LLC now owns 58,727 shares of the company’s stock valued at $1,111,000 after purchasing an additional 20,870 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Insider Activity at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00. Following the completion of the sale, the director now owns 2,079,666 shares in the company, valued at approximately $15,077,578.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 150,000 shares of company stock worth $1,110,000 in the last 90 days. 17.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LPRO shares. Canaccord Genuity Group dropped their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Open Lending in a research note on Wednesday, February 28th. Raymond James reissued an “outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.07.

Open Lending Trading Down 2.4 %

Shares of LPRO opened at $5.21 on Friday. Open Lending Co. has a 1-year low of $4.89 and a 1-year high of $11.99. The company has a 50-day moving average of $6.94 and a 200 day moving average of $6.98. The firm has a market capitalization of $619.35 million, a price-to-earnings ratio of 30.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $27.55 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was down 44.4% compared to the same quarter last year. On average, research analysts expect that Open Lending Co. will post 0.28 EPS for the current year.

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.