Open Lending Co. (NASDAQ:LPRO) Shares Sold by Kestrel Investment Management Corp

Kestrel Investment Management Corp decreased its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 375,000 shares of the company’s stock after selling 85,700 shares during the period. Open Lending makes up approximately 2.2% of Kestrel Investment Management Corp’s holdings, making the stock its 24th largest position. Kestrel Investment Management Corp owned approximately 0.31% of Open Lending worth $3,191,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its holdings in Open Lending by 3.8% during the first quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock worth $315,611,000 after purchasing an additional 603,411 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Open Lending by 11.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,297,740 shares of the company’s stock worth $86,577,000 after purchasing an additional 1,272,366 shares in the last quarter. Vanguard Group Inc. raised its holdings in Open Lending by 9.3% during the first quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock worth $186,970,000 after purchasing an additional 838,752 shares in the last quarter. BlackRock Inc. raised its holdings in Open Lending by 11.9% during the third quarter. BlackRock Inc. now owns 7,609,797 shares of the company’s stock worth $61,182,000 after purchasing an additional 807,200 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Open Lending by 8.9% during the 2nd quarter. State Street Corp now owns 2,572,068 shares of the company’s stock valued at $27,032,000 after acquiring an additional 211,102 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Trading Up 0.6 %

Shares of NASDAQ LPRO traded up $0.03 during trading on Friday, hitting $4.66. 551,074 shares of the company traded hands, compared to its average volume of 459,635. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $11.99. The company has a 50-day moving average price of $6.71 and a 200-day moving average price of $6.90. The firm has a market capitalization of $553.98 million, a P/E ratio of 27.24 and a beta of 0.99. The company has a quick ratio of 14.08, a current ratio of 14.08 and a debt-to-equity ratio of 0.68.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $27.55 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 44.4% on a year-over-year basis. On average, equities analysts predict that Open Lending Co. will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $7.25, for a total value of $362,500.00. Following the transaction, the director now owns 2,079,666 shares in the company, valued at approximately $15,077,578.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 150,000 shares of company stock worth $1,110,000 in the last quarter. 18.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LPRO has been the subject of several research reports. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.00 to $7.00 in a research report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Open Lending in a research note on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Raymond James reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Finally, Canaccord Genuity Group lowered their target price on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Open Lending presently has a consensus rating of “Hold” and a consensus price target of $7.07.

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.