Investors Purchase High Volume of Open Lending Call Options (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO) was the target of unusually large options trading on Monday. Stock traders bought 5,288 call options on the company. This represents an increase of 2,418% compared to the typical volume of 210 call options.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LPRO. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in Open Lending by 0.6% during the 4th quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after buying an additional 105,449 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Open Lending by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after acquiring an additional 920,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Open Lending by 1.6% in the fourth 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 last quarter. 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 purchasing an additional 63,450 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Open Lending by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock worth $14,293,000 after purchasing an additional 28,253 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Trading Down 57.6 %

NASDAQ:LPRO opened at $1.17 on Wednesday. The business’s 50-day moving average is $4.82 and its two-hundred day moving average is $5.52. The firm has a market capitalization of $139.64 million, a PE ratio of 39.00 and a beta of 1.25. Open Lending has a 12 month low of $1.15 and a 12 month high of $6.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

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

Open Lending Company 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.