Nuveen LLC Buys New Shares in Open Lending Corporation $LPRO

Nuveen LLC purchased a new stake in Open Lending Corporation (NASDAQ:LPRO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 395,873 shares of the company's stock, valued at approximately $1,093,000. Nuveen LLC owned approximately 0.33% of Open Lending as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LPRO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Open Lending by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company's stock valued at $890,000 after purchasing an additional 5,264 shares during the period. Wells Fargo & Company MN boosted its position in Open Lending by 13.5% during the fourth quarter. Wells Fargo & Company MN now owns 48,896 shares of the company's stock valued at $292,000 after purchasing an additional 5,799 shares during the last quarter. Quantinno Capital Management LP boosted its position in Open Lending by 69.2% during the fourth quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock valued at $112,000 after purchasing an additional 7,664 shares during the last quarter. MetLife Investment Management LLC increased its position in Open Lending by 13.1% during the fourth quarter. MetLife Investment Management LLC now owns 68,413 shares of the company's stock worth $408,000 after buying an additional 7,930 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Open Lending by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,777 shares of the company's stock worth $172,000 after buying an additional 9,468 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Open Lending Stock Performance

Shares of NASDAQ LPRO traded down $0.01 during mid-day trading on Friday, hitting $2.26. The company had a trading volume of 247,657 shares, compared to its average volume of 1,628,376. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. The business's 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.37. Open Lending Corporation has a 12 month low of $0.70 and a 12 month high of $6.92. The firm has a market cap of $266.47 million, a P/E ratio of -1.91 and a beta of 1.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. As a group, analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC increased their target price on shares of Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a research report on Friday, May 9th. Stephens began coverage on Open Lending in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $3.10.

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.