Wasatch Advisors LP Has $100.75 Million Position in Open Lending Co. (NASDAQ:LPRO)

Wasatch Advisors LP increased its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,094,115 shares of the company’s stock after purchasing an additional 546,166 shares during the period. Wasatch Advisors LP owned approximately 13.54% of Open Lending worth $100,749,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Open Lending by 1.9% during the third quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock worth $69,010,000 after buying an additional 174,115 shares during the last quarter. Working Capital Advisors UK Ltd. boosted its holdings in Open Lending by 10.2% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock valued at $60,323,000 after purchasing an additional 658,240 shares during the period. Cannell Capital LLC grew its position in Open Lending by 55.4% in the 4th quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock worth $22,525,000 after purchasing an additional 943,429 shares during the last quarter. Raymond James & Associates grew its position in Open Lending by 5.9% in the 4th quarter. Raymond James & Associates now owns 839,990 shares of the company’s stock worth $7,148,000 after purchasing an additional 46,432 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Open Lending by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock worth $6,606,000 after purchasing an additional 9,957 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of NASDAQ:LPRO traded down $0.01 on Tuesday, hitting $5.55. The stock had a trading volume of 323,704 shares, compared to its average volume of 474,771. The firm’s 50 day moving average price is $5.94 and its 200-day moving average price is $6.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 13.14 and a current ratio of 13.14. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $11.73. The company has a market capitalization of $661.39 million, a price-to-earnings ratio of 50.46 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $30.75 million during the quarter, compared to analyst estimates of $28.65 million. Open Lending had a net margin of 13.31% and a return on equity of 6.87%. Open Lending’s quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. On average, equities research analysts predict that Open Lending Co. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LPRO shares. Needham & Company LLC reduced their target price on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group decreased their price objective on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. BTIG Research started coverage on Open Lending in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Raymond James reiterated an “outperform” rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Finally, JMP Securities restated a “market outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.79.

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.