Charles Schwab Investment Management Inc. Buys 31,434 Shares of Open Lending Co. (NASDAQ:LPRO)

Charles Schwab Investment Management Inc. grew its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 841,913 shares of the company’s stock after purchasing an additional 31,434 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.71% of Open Lending worth $5,153,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Open Lending by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock valued at $230,000 after purchasing an additional 2,631 shares in the last quarter. QRG Capital Management Inc. boosted its stake 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 acquiring an additional 2,824 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Open Lending by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock worth $263,000 after acquiring an additional 3,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Open Lending during the second quarter worth about $33,000. Finally, Arizona State Retirement System boosted its stake in Open Lending by 32.2% during the second quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock worth $158,000 after acquiring an additional 6,896 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Down 0.8 %

Shares of Open Lending stock opened at $6.08 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The stock has a market capitalization of $725.65 million, a PE ratio of 202.67, a price-to-earnings-growth ratio of 2.52 and a beta of 1.16. Open Lending Co. has a 52-week low of $4.57 and a 52-week high of $8.70. The company has a 50-day simple moving average of $6.02 and a two-hundred day simple moving average of $5.92.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.83.

About Open Lending

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.