Arizona State Retirement System Has $158,000 Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

Arizona State Retirement System raised its position in Open Lending Co. (NASDAQ:LPRO) by 32.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 28,288 shares of the company’s stock after purchasing an additional 6,896 shares during the period. Arizona State Retirement System’s holdings in Open Lending were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. SlateStone Wealth LLC acquired a new stake in Open Lending during the second quarter valued at approximately $70,000. QRG Capital Management Inc. raised its holdings in shares of Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after buying an additional 2,824 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Open Lending by 27.3% during the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after buying an additional 2,971 shares during the period. Aigen Investment Management LP acquired a new stake in Open Lending in the 4th quarter valued at $121,000. Finally, Russell Investments Group Ltd. grew its position in Open Lending by 15.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock valued at $130,000 after acquiring an additional 2,090 shares during the period. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LPRO shares. Needham & Company LLC cut shares of Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. JMP Securities cut their price objective on 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 decreased their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 12th. BTIG Research assumed coverage on Open Lending in a report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Morgan Stanley reduced 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 report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.56.

Open Lending Price Performance

Open Lending stock opened at $5.99 on Thursday. The stock’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $5.88. The firm has a market cap of $713.80 million, a PE ratio of 54.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. Open Lending Co. has a one year low of $4.57 and a one year high of $8.70.

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