Goldman Sachs Group Inc. Trims Position in Open Lending Corporation $LPRO

Goldman Sachs Group Inc. trimmed its holdings in Open Lending Corporation (NASDAQ:LPRO) by 36.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 425,767 shares of the company’s stock after selling 239,943 shares during the period. Goldman Sachs Group Inc. owned 0.36% of Open Lending worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ethos Financial Group LLC purchased a new stake in shares of Open Lending in the first quarter valued at about $8,139,000. Exchange Traded Concepts LLC raised its holdings in shares of Open Lending by 58.3% in the first quarter. Exchange Traded Concepts LLC now owns 77,055 shares of the company’s stock valued at $213,000 after buying an additional 28,369 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Open Lending by 52.2% in the fourth quarter. Deutsche Bank AG now owns 95,160 shares of the company’s stock valued at $568,000 after buying an additional 32,634 shares during the last quarter. Working Capital Advisors UK Ltd. raised its holdings in shares of Open Lending by 6.8% in the first quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock valued at $26,921,000 after buying an additional 619,060 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC purchased a new stake in shares of Open Lending in the first quarter valued at about $428,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LPRO shares. Stephens started coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an “equal weight” rating and a $2.50 target price for the company. Raymond James Financial reissued an “outperform” rating and set a $2.80 price target (up from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.10.

Open Lending Stock Down 0.4%

LPRO stock opened at $2.25 on Monday. The company’s 50 day simple moving average is $2.24 and its 200-day simple moving average is $2.11. The firm has a market capitalization of $265.89 million, a PE ratio of -1.91 and a beta of 1.83. Open Lending Corporation has a 12 month low of $0.70 and a 12 month high of $6.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. Equities analysts expect that Open Lending Corporation 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.