Oppenheimer Asset Management Inc. Raises Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

Oppenheimer Asset Management Inc. raised its holdings in Open Lending Co. (NASDAQ:LPRO) by 48.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,951 shares of the company’s stock after purchasing an additional 35,435 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of Open Lending worth $608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SlateStone Wealth LLC acquired a new stake in Open Lending in the 2nd quarter valued at $70,000. Victory Capital Management Inc. grew its position in shares of Open Lending by 27.3% in the fourth quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock valued at $118,000 after purchasing an additional 2,971 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Open Lending in the fourth quarter valued at about $121,000. QRG Capital Management Inc. increased its stake in shares of Open Lending by 24.0% during the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Open Lending by 15.9% during the 4th 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 last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson lowered their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Needham & Company LLC lowered Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. BTIG Research began coverage on Open Lending in a research note on Friday, June 7th. They issued a “neutral” rating for the company. JMP Securities decreased their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley dropped their target price on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.56.

Open Lending Stock Down 2.1 %

Shares of LPRO opened at $6.05 on Friday. The stock has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $5.88. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $720.95 million, a PE ratio of 55.00 and a beta of 1.12. Open Lending Co. has a 52-week low of $4.57 and a 52-week high of $8.70.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. Open Lending’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, equities analysts forecast that Open Lending Co. will post 0.18 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.