Chicago Partners Investment Group LLC Boosts Stake in Open Lending Co. (NASDAQ:LPRO)

Chicago Partners Investment Group LLC increased its position in Open Lending Co. (NASDAQ:LPRO) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Chicago Partners Investment Group LLC’s holdings in Open Lending were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Swiss National Bank raised its position in Open Lending by 1.1% during the third quarter. Swiss National Bank now owns 172,450 shares of the company’s stock valued at $1,262,000 after purchasing an additional 1,800 shares during the period. Russell Investments Group Ltd. increased its stake in Open Lending by 15.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after purchasing an additional 2,090 shares during the period. Olympiad Research LP lifted its position in shares of Open Lending by 10.7% during the fourth quarter. Olympiad Research LP now owns 29,219 shares of the company’s stock worth $249,000 after purchasing an additional 2,832 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Open Lending by 27.3% in the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after buying an additional 2,971 shares during the period. Finally, Raymond James Trust N.A. lifted its position in shares of Open Lending by 3.4% in the 4th quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock worth $913,000 after purchasing an additional 3,556 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Needham & Company LLC lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Raymond James reissued an “outperform” rating and issued a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Canaccord Genuity Group cut their price target on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and issued a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Finally, BTIG Research initiated coverage on shares of Open Lending in a report on Friday, June 7th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Open Lending presently has an average rating of “Hold” and a consensus price target of $6.79.

Insider Activity

In other news, Director John Joseph Flynn sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the transaction, the director now owns 1,993,762 shares in the company, valued at $14,654,150.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 15.00% of the company’s stock.

Open Lending Price Performance

LPRO stock opened at $5.84 on Wednesday. The company has a market capitalization of $695.95 million, a P/E ratio of 53.10 and a beta of 1.12. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $11.73. The business has a 50 day simple moving average of $5.79 and a 200-day simple moving average of $6.77. The company has a current ratio of 13.14, a quick ratio of 13.14 and a debt-to-equity ratio of 0.65.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Open Lending had a return on equity of 6.87% and a net margin of 13.31%. The company had revenue of $30.75 million for the quarter, compared to analyst estimates of $28.65 million. During the same period in the prior year, the business earned $0.10 earnings per share. Open Lending’s revenue for the quarter was down 19.9% compared to the same quarter last year. As a group, equities analysts anticipate that Open Lending Co. will post 0.22 EPS for the current year.

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.