SG Americas Securities LLC Makes New Investment in Open Lending Co. (NASDAQ:LPRO)

SG Americas Securities LLC bought a new stake in shares of Open Lending Co. (NASDAQ:LPRO) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 25,287 shares of the company’s stock, valued at approximately $155,000.

Other hedge funds have also made changes to their positions in the company. Wasatch Advisors LP increased its holdings in Open Lending by 3.5% in the first quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after buying an additional 546,166 shares during the last quarter. EVR Research LP bought a new stake in shares of Open Lending in the 2nd quarter valued at approximately $2,758,000. King Luther Capital Management Corp acquired a new stake in shares of Open Lending during the 2nd quarter valued at approximately $558,000. Sei Investments Co. lifted its stake in Open Lending by 14.5% during the first quarter. Sei Investments Co. now owns 486,893 shares of the company’s stock worth $3,048,000 after purchasing an additional 61,647 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake 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 last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LPRO. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. 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 note on Monday, August 12th. JMP Securities decreased their target price on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Open Lending has a consensus rating of “Hold” and an average target price of $6.56.

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $5.41 on Friday. Open Lending Co. has a 12-month low of $4.57 and a 12-month high of $8.70. The company has a market cap of $644.68 million, a PE ratio of 49.18 and a beta of 1.12. The stock has a 50 day simple moving average of $5.73 and a 200-day simple moving average of $5.76. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results 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). The business 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%. The company’s revenue was down 29.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. On average, equities research analysts forecast that Open Lending Co. will post 0.18 EPS for the current year.

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.