Raymond James & Associates Sells 6,272 Shares of Open Lending Co. (NASDAQ:LPRO)

Raymond James & Associates cut its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,358 shares of the company’s stock after selling 6,272 shares during the quarter. Raymond James & Associates owned approximately 0.60% of Open Lending worth $4,378,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Open Lending by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,974 shares of the company’s stock valued at $1,446,000 after purchasing an additional 22,139 shares during the last quarter. Sei Investments Co. lifted its stake in Open Lending by 14.5% in the 1st quarter. Sei Investments Co. now owns 486,893 shares of the company’s stock valued at $3,048,000 after purchasing an additional 61,647 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Open Lending by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after purchasing an additional 51,276 shares during the period. QRG Capital Management Inc. increased its position in 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 buying an additional 2,824 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Open Lending by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock valued at $2,156,000 after buying an additional 41,792 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Trading Up 4.3 %

LPRO opened at $5.84 on Friday. The stock has a market capitalization of $696.42 million, a price-to-earnings ratio of 146.04 and a beta of 1.13. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70. The company has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $5.78.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results 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). Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The firm had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was down 29.9% on a year-over-year basis. Analysts predict that Open Lending Co. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LPRO has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. DA Davidson dropped their price objective on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JMP Securities reduced their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.56.

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.