Open Lending Co. (NASDAQ:LPRO) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 12.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 386,306 shares of the company’s stock after acquiring an additional 41,792 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of Open Lending worth $2,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. G2 Investment Partners Management LLC purchased a new position in Open Lending in the 4th quarter worth approximately $1,702,000. Wasatch Advisors LP raised its position in shares of Open Lending by 3.5% during 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 period. Charles Schwab Investment Management Inc. raised 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 buying an additional 9,957 shares during the period. Working Capital Advisors UK Ltd. raised its position 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 valued at $60,323,000 after buying an additional 658,240 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of Open Lending by 25.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company’s stock valued at $213,000 after buying an additional 5,000 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Open Lending Trading Up 6.2 %

Shares of LPRO opened at $5.85 on Wednesday. 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’s 50-day moving average is $5.72 and its two-hundred day moving average is $5.88. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70. The firm has a market capitalization of $697.12 million, a P/E ratio of 53.18 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued 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). The firm had revenue of $26.73 million for the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The business’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. On average, research 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.