Mirae Asset Global Investments Co. Ltd. Sells 3,714 Shares of Open Lending Co. (NASDAQ:LPRO)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Open Lending Co. (NASDAQ:LPRO) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,835 shares of the company’s stock after selling 3,714 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Open Lending were worth $1,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew 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 purchasing an additional 3,405 shares in the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 11,996 shares in the last quarter. Bank of New York Mellon Corp grew 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 purchasing an additional 35,025 shares in the last quarter. PNC Financial Services Group Inc. grew 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 purchasing an additional 1,591 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Open Lending by 55.1% during the 1st quarter. MetLife Investment Management LLC now owns 58,727 shares of the company’s stock valued at $1,111,000 after buying an additional 20,870 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of LPRO stock opened at $4.66 on Friday. Open Lending Co. has a 52-week low of $4.57 and a 52-week high of $11.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The firm has a market capitalization of $553.97 million, a P/E ratio of 27.41 and a beta of 0.99. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $6.88.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $14.90 million for the quarter, compared to the consensus estimate of $27.55 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Open Lending’s revenue was down 44.4% on a year-over-year basis. As a group, sell-side analysts predict that Open Lending Co. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

LPRO has been the subject of several research analyst reports. Canaccord Genuity Group cut their price target on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Open Lending in a report on Wednesday, February 28th. Raymond James restated an “outperform” rating and set a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $4.00 to $7.00 in a report on Tuesday, February 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.07.

Insider Buying and Selling at Open Lending

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $7.60, for a total transaction of $380,000.00. Following the completion of the sale, the director now directly owns 2,129,666 shares of the company’s stock, valued at approximately $16,185,461.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 150,000 shares of company stock valued at $1,110,000 in the last ninety days. Corporate insiders own 18.30% of the company’s stock.

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.