Open Lending Co. (NASDAQ:LPRO) Stock Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Open Lending Co. (NASDAQ:LPRO) by 6.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 578,125 shares of the company’s stock after selling 42,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Open Lending worth $3,451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Open Lending in the fourth quarter valued at $4,326,000. Barclays PLC lifted its stake in Open Lending by 363.5% in the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock worth $1,034,000 after acquiring an additional 132,561 shares in the last quarter. Royce & Associates LP boosted its position in Open Lending by 61.3% during the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after acquiring an additional 295,395 shares during the period. State Street Corp grew its stake in Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after acquiring an additional 63,450 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Open Lending by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock valued at $60,768,000 after purchasing an additional 160,617 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Trading Up 18.8 %

Shares of NASDAQ:LPRO opened at $1.01 on Wednesday. Open Lending Co. has a 1 year low of $0.70 and a 1 year high of $6.97. The firm has a fifty day moving average price of $3.12 and a 200 day moving average price of $4.93. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $120.98 million, a PE ratio of 33.67 and a beta of 1.57.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.23 million for the quarter, compared to the consensus estimate of $24.03 million. During the same quarter last year, the company posted ($0.04) EPS. Analysts expect that Open Lending Co. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on LPRO. Needham & Company LLC lowered their price objective on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Wednesday, April 16th. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Finally, Citizens Jmp initiated coverage on Open Lending in a research note on Friday, April 4th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.62.

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.