Goldman Sachs Group Inc. Reduces Holdings in Open Lending Corporation $LPRO

Key Points

• Goldman Sachs Group Inc. reduced its stake in Open Lending Corporation by 36.0%, selling 239,943 shares in the first quarter and ending up with 425,767 shares valued at $1,175,000.
• Various institutional investors have increased their positions in Open Lending, with the majority of the stock (78.06%) now owned by hedge funds and other institutional entities.
• Open Lending's stock is currently rated as a "Moderate Buy" based on consensus from analysts, with an average target price of $3.10 following different recent evaluations.

Goldman Sachs Group Inc. cut its holdings in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 425,767 shares of the company's stock after selling 239,943 shares during the quarter. Goldman Sachs Group Inc. owned 0.36% of Open Lending worth $1,175,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Open Lending in the first quarter valued at approximately $32,000. Teacher Retirement System of Texas acquired a new position in shares of Open Lending during the first quarter worth approximately $41,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Open Lending during the first quarter worth approximately $43,000. Caxton Associates LLP acquired a new position in shares of Open Lending during the first quarter worth approximately $54,000. Finally, Aigen Investment Management LP bought a new stake in Open Lending during the first quarter worth $60,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

NASDAQ:LPRO traded up $0.14 during trading on Monday, reaching $2.39. The company's stock had a trading volume of 1,158,683 shares, compared to its average volume of 570,280. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $2.24 and a 200-day moving average of $2.11. Open Lending Corporation has a 12 month low of $0.70 and a 12 month high of $6.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $25.31 million during the quarter, compared to analysts' expectations of $23.63 million. Equities analysts forecast that Open Lending Corporation will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and set a $2.80 price target (up previously from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Stephens assumed coverage on Open Lending in a report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price target for the company. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Open Lending presently has an average rating of "Moderate Buy" and an average target price of $3.10.

About Open Lending

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.