SG Americas Securities LLC Purchases Shares of 25,287 Open Lending Co. (NASDAQ:LPRO)

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

Several other large investors have also modified their holdings of LPRO. Wasatch Advisors LP raised its position in shares of Open Lending by 3.5% during the first quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock worth $100,749,000 after purchasing an additional 546,166 shares during the period. EVR Research LP purchased a new position in Open Lending in the 2nd quarter worth about $2,758,000. King Luther Capital Management Corp acquired a new stake in Open Lending during the 2nd quarter worth about $558,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Open Lending by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,974 shares of the company’s stock valued at $1,446,000 after buying an additional 22,139 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in shares of Open Lending in the first quarter worth about $166,000. 78.06% of the stock is owned by institutional investors.

Open Lending Trading Down 1.1 %

NASDAQ LPRO opened at $5.41 on Friday. 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 Co. has a 1-year low of $4.57 and a 1-year high of $8.70. The firm’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $5.76. The company has a market capitalization of $644.68 million, a PE ratio of 49.18 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $26.73 million during 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 business’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, sell-side analysts anticipate that Open Lending Co. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LPRO has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. DA Davidson cut their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Finally, JMP Securities lowered their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.56.

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.