Federated Hermes Inc. Raises Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

Federated Hermes Inc. boosted its holdings in Open Lending Co. (NASDAQ:LPRO) by 9.2% during the 2nd quarter, Holdings Channel reports. The firm owned 95,418 shares of the company’s stock after acquiring an additional 8,010 shares during the period. Federated Hermes Inc.’s holdings in Open Lending were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

Open Lending Price Performance

LPRO stock opened at $5.96 on Tuesday. The firm has a 50 day moving average of $5.74 and a 200-day moving average of $5.86. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $710.22 million, a P/E ratio of 54.18 and a beta of 1.12. Open Lending Co. has a 12 month low of $4.57 and a 12 month high of $8.70.

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 for the quarter, compared to analysts’ expectations of $31.03 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was down 29.9% on a year-over-year basis. As a group, sell-side analysts predict that Open Lending Co. will post 0.18 earnings per share for the current fiscal year.

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.