Blue Trust Inc. Purchases 7,093 Shares of Open Lending Co. (NASDAQ:LPRO)

Blue Trust Inc. raised its position in Open Lending Co. (NASDAQ:LPRO) by 208.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,500 shares of the company’s stock after acquiring an additional 7,093 shares during the period. Blue Trust Inc.’s holdings in Open Lending were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Open Lending in the 3rd quarter worth about $155,000. Cubist Systematic Strategies LLC purchased a new position in shares of Open Lending in the second quarter worth about $33,000. Point72 Asset Management L.P. bought a new stake in shares of Open Lending in the second quarter valued at approximately $110,000. Algert Global LLC lifted its stake in shares of Open Lending by 3.7% during the 2nd quarter. Algert Global LLC now owns 398,913 shares of the company’s stock valued at $2,226,000 after buying an additional 14,191 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Open Lending by 100.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $112,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LPRO. JMP Securities lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. DA Davidson decreased their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price target on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Open Lending presently has an average rating of “Hold” and a consensus target price of $6.56.

Open Lending Stock Performance

NASDAQ:LPRO opened at $5.60 on Friday. The stock has a market cap of $667.82 million, a P/E ratio of 50.91 and a beta of 1.12. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.76. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70.

Open Lending (NASDAQ:LPRO) last announced 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). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The company had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $31.03 million. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down 29.9% compared to the same quarter last year. As a group, equities analysts predict 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.