Ameriprise Financial Inc. Makes New $80,000 Investment in Open Lending Co. (NASDAQ:LPRO)

Ameriprise Financial Inc. bought a new position in shares of Open Lending Co. (NASDAQ:LPRO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,403 shares of the company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Open Lending during the fourth quarter worth $54,000. Proficio Capital Partners LLC purchased a new position in shares of Open Lending during the fourth quarter worth $95,000. KLP Kapitalforvaltning AS purchased a new position in shares of Open Lending during the fourth quarter worth $124,000. Two Sigma Securities LLC boosted its position in shares of Open Lending by 26.9% during the fourth quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock worth $140,000 after buying an additional 4,962 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Open Lending by 13.5% during the fourth quarter. Wells Fargo & Company MN now owns 48,896 shares of the company’s stock worth $292,000 after buying an additional 5,799 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

LPRO has been the subject of several research analyst reports. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and lowered their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Needham & Company LLC raised their price target on Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Citizens Jmp initiated coverage on Open Lending in a research report on Friday, April 4th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.44.

Insider Buying and Selling at Open Lending

In other news, CEO Jessica E. Buss bought 12,975 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the transaction, the chief executive officer now owns 46,446 shares of the company’s stock, valued at approximately $89,640.78. This trade represents a 38.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is owned by insiders.

Open Lending Trading Up 5.2%

NASDAQ:LPRO opened at $2.01 on Friday. The firm has a market cap of $240.76 million, a PE ratio of 67.00 and a beta of 1.94. The stock has a fifty day moving average price of $1.45 and a 200 day moving average price of $3.96. Open Lending Co. has a 12-month low of $0.70 and a 12-month high of $6.92. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $24.39 million during the quarter, compared to analyst estimates of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. Sell-side 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.