Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Open Lending Co. (NASDAQ:LPRO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Open Lending Co. (NASDAQ:LPRO) by 20.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,308 shares of the company’s stock after selling 4,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Open Lending were worth $147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Algert Global LLC grew its stake in Open Lending by 271.3% in the 3rd quarter. Algert Global LLC now owns 339,719 shares of the company’s stock valued at $2,487,000 after buying an additional 248,223 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Open Lending by 5.9% in the fourth quarter. Raymond James & Associates now owns 839,990 shares of the company’s stock worth $7,148,000 after acquiring an additional 46,432 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Open Lending in the third quarter valued at $1,454,000. Vanguard Group Inc. raised its stake in shares of Open Lending by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock valued at $69,010,000 after purchasing an additional 174,115 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Open Lending by 3.4% during the 4th quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock worth $913,000 after purchasing an additional 3,556 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

LPRO stock opened at $5.57 on Thursday. The firm has a 50 day simple moving average of $5.95 and a two-hundred day simple moving average of $6.74. The stock has a market cap of $662.16 million, a PE ratio of 32.76 and a beta of 1.03. Open Lending Co. has a one year low of $4.57 and a one year high of $11.99. 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 posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $30.75 million for the quarter, compared to the consensus estimate of $28.65 million. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business’s revenue was down 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, analysts predict that Open Lending Co. will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the transaction, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC reduced their target price on Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group reduced their price objective on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Raymond James reissued an “outperform” rating and issued a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Finally, Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.00 to $7.00 in a report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.79.

About Open Lending

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.