Open Lending Co. (NASDAQ:LPRO) Short Interest Update

Open Lending Co. (NASDAQ:LPRO) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 3,940,000 shares, an increase of 7.4% from the July 31st total of 3,670,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 445,300 shares, the days-to-cover ratio is presently 8.8 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on LPRO. Morgan Stanley cut their price objective on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. BTIG Research started coverage on shares of Open Lending in a report on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC lowered shares of Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. DA Davidson cut their target price on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, JMP Securities lowered their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Open Lending presently has an average rating of “Hold” and a consensus price target of $6.56.

Open Lending Stock Up 0.7 %

Shares of LPRO stock opened at $5.76 on Monday. The stock’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $6.08. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32. The company has a market capitalization of $686.88 million, a price-to-earnings ratio of 52.37 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The firm had revenue of $26.73 million during the quarter, compared to the consensus estimate of $31.03 million. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was down 29.9% compared to the same quarter last year. As a group, research analysts predict that Open Lending will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. G2 Investment Partners Management LLC acquired a new stake in shares of Open Lending in the fourth quarter valued at about $1,702,000. Wasatch Advisors LP grew its holdings in Open Lending by 3.5% in the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after buying an additional 546,166 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Open Lending by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock worth $6,606,000 after buying an additional 9,957 shares during the period. Working Capital Advisors UK Ltd. lifted its holdings in shares of Open Lending by 10.2% during the fourth quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock worth $60,323,000 after buying an additional 658,240 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of Open Lending by 25.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company’s stock worth $213,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 78.06% 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.