Renaissance Technologies LLC Has $3.61 Million Stock Position in Open Lending Co. (NASDAQ:LPRO)

Renaissance Technologies LLC lowered its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 17.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 647,125 shares of the company’s stock after selling 138,300 shares during the period. Renaissance Technologies LLC owned approximately 0.54% of Open Lending worth $3,611,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SlateStone Wealth LLC purchased a new position in Open Lending in the second quarter valued at about $70,000. QRG Capital Management Inc. raised its stake in shares of Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after buying an additional 2,824 shares during the period. Arizona State Retirement System lifted its position in shares of Open Lending by 32.2% during the 2nd quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock valued at $158,000 after buying an additional 6,896 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in shares of Open Lending in the first quarter valued at approximately $166,000. Finally, Chicago Partners Investment Group LLC raised its holdings in Open Lending by 25.0% during 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on LPRO shares. Needham & Company LLC lowered shares of Open Lending from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. DA Davidson decreased their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 12th. BTIG Research started coverage on Open Lending in a research note on Friday, June 7th. They set a “neutral” rating for the company. Morgan Stanley decreased their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, JMP Securities lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.56.

Open Lending Trading Up 4.9 %

Shares of LPRO opened at $6.43 on Monday. The firm has a market cap of $766.23 million, a price-to-earnings ratio of 58.45 and a beta of 1.12. The firm has a 50 day moving average price of $5.72 and a 200-day moving average price of $5.83. Open Lending Co. has a fifty-two week low of $4.57 and a fifty-two week high of $8.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $26.73 million during the quarter, compared to the consensus estimate of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The firm’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, equities research analysts forecast that Open Lending Co. will post 0.18 earnings per share for the current year.

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.