Raymond James Financial Inc. Purchases Shares of 724,590 Open Lending Co. (NASDAQ:LPRO)

Raymond James Financial Inc. acquired a new position in shares of Open Lending Co. (NASDAQ:LPRO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 724,590 shares of the company’s stock, valued at approximately $4,326,000. Raymond James Financial Inc. owned approximately 0.61% of Open Lending at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wasatch Advisors LP raised its stake in Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after acquiring an additional 222,969 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Open Lending during the third quarter worth about $845,000. Barclays PLC increased its position in shares of Open Lending by 363.5% during the third quarter. Barclays PLC now owns 169,024 shares of the company’s stock worth $1,034,000 after purchasing an additional 132,561 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Open Lending by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after purchasing an additional 68,721 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Open Lending by 2.6% in the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after purchasing an additional 63,450 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Trading Down 8.0 %

NASDAQ:LPRO opened at $3.01 on Thursday. Open Lending Co. has a 12-month low of $2.94 and a 12-month high of $6.97. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $5.03 and its 200-day simple moving average is $5.60. The firm has a market cap of $359.24 million, a P/E ratio of 100.33 and a beta of 1.25.

Wall Street Analysts Forecast Growth

LPRO has been the topic of several research analyst reports. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Open Lending presently has a consensus rating of “Hold” and a consensus target price of $6.12.

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.