Open Lending Co. (NASDAQ:LPRO) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in Open Lending Co. (NASDAQ:LPRO) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,527 shares of the company’s stock after selling 3,388 shares during the quarter. Raymond James Trust N.A.’s holdings in Open Lending were worth $597,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LPRO. Cubist Systematic Strategies LLC purchased a new stake in Open Lending in the second quarter valued at approximately $33,000. Blue Trust Inc. raised its holdings in shares of Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after buying an additional 7,093 shares during the period. SlateStone Wealth LLC acquired a new position in Open Lending during the 2nd quarter worth about $70,000. QRG Capital Management Inc. boosted its holdings in Open Lending by 24.0% during the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after acquiring an additional 2,824 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Open Lending in the 3rd quarter valued at about $91,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of LPRO opened at $6.48 on Tuesday. The firm has a market capitalization of $773.39 million, a price-to-earnings ratio of 216.00, a PEG ratio of 2.78 and a beta of 1.13. The firm’s fifty day simple moving average is $5.98 and its 200-day simple moving average is $5.93. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. DA Davidson decreased their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 12th. JMP Securities cut their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley decreased their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Open Lending has an average rating of “Hold” and an average price target of $6.83.

About Open Lending

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.