JPMorgan Chase & Co. Sells 704,217 Shares of Open Lending Co. (NASDAQ:LPRO)

JPMorgan Chase & Co. decreased its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 69.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,945 shares of the company’s stock after selling 704,217 shares during the quarter. JPMorgan Chase & Co. owned about 0.26% of Open Lending worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LPRO. R Squared Ltd purchased a new position in shares of Open Lending in the fourth quarter valued at $25,000. Quantbot Technologies LP bought a new position in Open Lending in the 4th quarter worth about $54,000. Proficio Capital Partners LLC purchased a new position in Open Lending during the 4th quarter valued at about $95,000. KLP Kapitalforvaltning AS bought a new stake in shares of Open Lending during the fourth quarter valued at about $124,000. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of Open Lending by 16.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock worth $274,000 after buying an additional 7,166 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LPRO shares. Citizens Jmp assumed coverage on shares of Open Lending in a research note on Friday, April 4th. They set a “market perform” rating for the company. Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Needham & Company LLC lowered their price objective on Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, DA Davidson restated a “buy” rating and set a $4.00 target price on shares of Open Lending in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.62.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $1.28 on Friday. Open Lending Co. has a one year low of $0.70 and a one year high of $6.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The firm has a market capitalization of $153.32 million, a price-to-earnings ratio of 42.67 and a beta of 1.57. The company’s fifty day moving average price is $2.94 and its 200-day moving average price is $4.87.

Open Lending (NASDAQ:LPRO) last released its earnings results 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 the consensus estimate of $24.03 million. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts anticipate that Open Lending Co. will post 0.1 earnings per share for the current fiscal 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.