Blue Trust Inc. Sells 2,654 Shares of Open Lending Co. (NASDAQ:LPRO)

Blue Trust Inc. lowered its stake in Open Lending Co. (NASDAQ:LPRO) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,846 shares of the company’s stock after selling 2,654 shares during the period. Blue Trust Inc.’s holdings in Open Lending were worth $48,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LPRO. Cubist Systematic Strategies LLC bought a new stake in shares of Open Lending during the 2nd quarter valued at about $33,000. Quantinno Capital Management LP bought a new stake in Open Lending during the 3rd quarter valued at approximately $68,000. Intech Investment Management LLC purchased a new position in shares of Open Lending during the 3rd quarter worth approximately $91,000. QRG Capital Management Inc. raised its position in shares of Open Lending by 24.4% in the 3rd quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after acquiring an additional 3,561 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $155,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Performance

NASDAQ LPRO opened at $6.32 on Monday. 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 twelve month low of $4.57 and a twelve month high of $8.43. The business has a 50-day moving average price of $5.79 and a 200-day moving average price of $5.83. The firm has a market cap of $754.29 million, a price-to-earnings ratio of 210.67 and a beta of 1.16.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The company had revenue of $23.48 million for the quarter, compared to the consensus estimate of $29.46 million. During the same quarter in the previous year, the business earned $0.02 EPS. As a group, equities research analysts predict that Open Lending Co. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

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.