Chicago Partners Investment Group LLC Grows Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

Chicago Partners Investment Group LLC increased its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Open Lending were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Palogic Value Management L.P. grew its holdings in shares of Open Lending by 81.8% during the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock worth $3,404,000 after buying an additional 180,000 shares during the last quarter. G2 Investment Partners Management LLC purchased a new stake in Open Lending in the 4th quarter valued at approximately $1,702,000. Cannell Capital LLC boosted its holdings in Open Lending by 55.4% in the 4th quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock valued at $22,525,000 after purchasing an additional 943,429 shares in the last quarter. Dean Capital Management boosted its holdings in Open Lending by 17.6% in the 4th quarter. Dean Capital Management now owns 33,119 shares of the company’s stock valued at $282,000 after purchasing an additional 4,950 shares in the last quarter. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 1.7 %

Shares of Open Lending stock opened at $5.84 on Wednesday. The business has a 50 day moving average price of $5.79 and a 200 day moving average price of $6.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.14 and a quick ratio of 13.14. The company has a market capitalization of $695.95 million, a P/E ratio of 53.10 and a beta of 1.12. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $11.73.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business 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%. The company’s revenue was down 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Sell-side analysts anticipate that Open Lending Co. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the sale, the director now directly owns 1,993,762 shares of the company’s stock, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.00% of the company’s stock.

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.