Vanguard Group Inc. Has $60.77 Million Stake in Open Lending Co. (NASDAQ:LPRO)

Vanguard Group Inc. boosted its holdings in Open Lending Co. (NASDAQ:LPRO) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,178,916 shares of the company’s stock after purchasing an additional 160,617 shares during the period. Vanguard Group Inc. owned about 8.53% of Open Lending worth $60,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Open Lending by 4.2% during the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock worth $492,000 after purchasing an additional 3,309 shares in the last quarter. R Squared Ltd acquired a new position in Open Lending during the fourth quarter worth $25,000. Rhumbline Advisers raised its position in Open Lending by 3.7% during the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock worth $872,000 after acquiring an additional 5,149 shares in the last quarter. Verition Fund Management LLC lifted its stake in Open Lending by 27.4% in the third quarter. Verition Fund Management LLC now owns 28,558 shares of the company’s stock valued at $175,000 after acquiring an additional 6,150 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Open Lending by 16.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock valued at $274,000 after acquiring an additional 7,166 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Trading Down 2.5 %

Shares of NASDAQ:LPRO opened at $0.85 on Friday. The stock has a market cap of $101.28 million, a PE ratio of 28.29 and a beta of 1.57. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 12-month low of $0.70 and a 12-month high of $6.97. The business has a 50 day moving average of $3.86 and a 200-day moving average of $5.18.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Monday, March 31st. The company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The firm had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, equities research analysts forecast that Open Lending Co. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPRO. DA Davidson dropped their target price on shares of Open Lending from $8.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Needham & Company LLC cut their price objective on Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Citizens Jmp initiated coverage on Open Lending in a report on Friday, April 4th. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.62.

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.