Federated Hermes Inc. Buys 8,010 Shares of Open Lending Co. (NASDAQ:LPRO)

Federated Hermes Inc. raised its stake in Open Lending Co. (NASDAQ:LPRO) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,418 shares of the company’s stock after buying an additional 8,010 shares during the period. Federated Hermes Inc. owned about 0.08% of Open Lending worth $532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cannell Capital LLC lifted its stake in shares of Open Lending by 55.4% in the fourth quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock worth $22,525,000 after acquiring an additional 943,429 shares during the period. Working Capital Advisors UK Ltd. lifted its position in shares of Open Lending by 10.2% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock worth $60,323,000 after purchasing an additional 658,240 shares during the period. Wasatch Advisors LP boosted its stake in shares of Open Lending by 3.5% in the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after purchasing an additional 546,166 shares during the last quarter. G2 Investment Partners Management LLC acquired a new stake in shares of Open Lending during the fourth quarter worth $1,702,000. Finally, Palogic Value Management L.P. raised its stake in Open Lending by 81.8% during the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock worth $3,404,000 after buying an additional 180,000 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Open Lending Price Performance

Shares of LPRO opened at $5.96 on Tuesday. The business’s fifty day moving average is $5.74 and its 200 day moving average is $5.86. Open Lending Co. has a 12-month low of $4.57 and a 12-month high of $8.70. 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 stock has a market cap of $710.22 million, a P/E ratio of 54.18 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The business 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 earned $0.09 earnings per share. The firm’s quarterly revenue was down 29.9% compared to the same quarter last year. Sell-side analysts anticipate that Open Lending Co. will post 0.18 earnings per share for the current fiscal 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.