JPMorgan Chase & Co. Has $6.21 Million Position in Open Lending Co. (NASDAQ:LPRO)

JPMorgan Chase & Co. lessened its stake in Open Lending Co. (NASDAQ:LPRO) by 26.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,014,162 shares of the company’s stock after selling 358,486 shares during the period. JPMorgan Chase & Co.’s holdings in Open Lending were worth $6,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LPRO. EVR Research LP acquired a new position in shares of Open Lending in the second quarter worth approximately $2,758,000. Royce & Associates LP raised its holdings in Open Lending by 152.1% during the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock worth $2,948,000 after purchasing an additional 290,602 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Open Lending by 1.4% in the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after purchasing an additional 222,969 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Open Lending in the 3rd quarter valued at $1,153,000. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Open Lending during the third quarter worth $845,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of LPRO stock opened at $5.28 on Thursday. The firm has a 50 day moving average of $6.03 and a 200-day moving average of $5.85. The company has a market cap of $630.17 million, a price-to-earnings ratio of 176.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 52 week low of $4.57 and a 52 week high of $8.43.

Analysts Set New Price Targets

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

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.