Raymond James Financial Inc. Purchases Shares of 724,590 Open Lending Co. (NASDAQ:LPRO)

Raymond James Financial Inc. purchased a new stake in Open Lending Co. (NASDAQ:LPRO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 724,590 shares of the company's stock, valued at approximately $4,326,000. Raymond James Financial Inc. owned about 0.61% of Open Lending as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Geode Capital Management LLC lifted its position in Open Lending by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company's stock valued at $14,293,000 after purchasing an additional 28,253 shares during the last quarter. Royce & Associates LP grew its stake in shares of Open Lending by 61.3% in the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company's stock worth $4,639,000 after buying an additional 295,395 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Open Lending by 5.6% in the 4th quarter. Sei Investments Co. now owns 562,480 shares of the company's stock worth $3,358,000 after buying an additional 29,882 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Open Lending by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 311,737 shares of the company's stock valued at $1,861,000 after buying an additional 8,052 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LPRO shares. Needham & Company LLC reduced their price objective on Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citizens Jmp initiated coverage on Open Lending in a research report on Friday, April 4th. They set a "market perform" rating on the stock. DA Davidson restated a "buy" rating and issued a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group cut shares of Open Lending from a "buy" rating to a "hold" rating and cut their price objective for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.62.

Open Lending Trading Up 3.5 %

Open Lending stock traded up $0.05 during mid-day trading on Friday, hitting $1.33. The company's stock had a trading volume of 429,946 shares, compared to its average volume of 967,746. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The company has a 50 day moving average of $2.53 and a 200-day moving average of $4.72. Open Lending Co. has a one year low of $0.70 and a one year high of $6.97. The stock has a market cap of $158.71 million, a PE ratio of 44.17 and a beta of 1.57.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The company had revenue of $24.23 million for the quarter, compared to the consensus estimate of $24.03 million. During the same period in the prior year, the firm posted ($0.04) EPS. On average, research analysts anticipate that Open Lending Co. will post 0.1 EPS for the current 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.