Open Lending Co. (NASDAQ:LPRO) Shares Purchased by Advisory Research Inc.

Advisory Research Inc. boosted its stake in Open Lending Co. (NASDAQ:LPRO) by 21.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,976 shares of the company’s stock after purchasing an additional 5,580 shares during the period. Advisory Research Inc.’s holdings in Open Lending were worth $1,133,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LPRO. Teacher Retirement System of Texas grew its stake in shares of Open Lending by 21.8% in the first quarter. Teacher Retirement System of Texas now owns 7,523 shares of the company’s stock worth $266,000 after acquiring an additional 1,349 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Open Lending by 149.1% in the first quarter. Rockefeller Capital Management L.P. now owns 1,420 shares of the company’s stock worth $50,000 after acquiring an additional 850 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Open Lending in the first quarter worth $4,069,000. Jennison Associates LLC grew its stake in shares of Open Lending by 53.8% in the first quarter. Jennison Associates LLC now owns 572,108 shares of the company’s stock worth $20,264,000 after acquiring an additional 200,111 shares in the last quarter. Finally, Segantii Capital Management Ltd acquired a new position in shares of Open Lending in the first quarter worth $76,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Several research firms have commented on LPRO. William Blair began coverage on shares of Open Lending in a research note on Thursday, March 4th. They issued an “outperform” rating for the company. Raymond James lowered their target price on shares of Open Lending from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Wednesday, May 12th. Morgan Stanley lowered their target price on shares of Open Lending from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 12th. Canaccord Genuity boosted their target price on shares of Open Lending from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Finally, B. Riley boosted their target price on shares of Open Lending from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 21st. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.62.

In related news, Director Blair J. Greenberg sold 5,331,321 shares of the stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $34.00, for a total transaction of $181,264,914.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sagemount I. L.P. Bregal sold 5,305,840 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $34.00, for a total transaction of $180,398,560.00. The disclosure for this sale can be found here. Insiders have sold 10,879,512 shares of company stock valued at $369,573,811 over the last three months. 25.96% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:LPRO opened at $38.33 on Friday. The company has a 50-day simple moving average of $37.79. Open Lending Co. has a one year low of $12.70 and a one year high of $43.00. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 4.24. The stock has a market capitalization of $4.84 billion, a PE ratio of -27.18 and a beta of 0.37.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Monday, May 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Open Lending had a negative net margin of 68.56% and a negative return on equity of 50.19%. The business had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $40.91 million. During the same period in the previous year, the company posted $0.16 earnings per share. Open Lending’s quarterly revenue was up 152.9% on a year-over-year basis. On average, equities research analysts forecast that Open Lending Co. will post 0.76 earnings per share for the current fiscal year.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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Institutional Ownership by Quarter for Open Lending (NASDAQ:LPRO)

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