Royce & Associates LP Has $1.59 Million Position in Open Lending Corporation (NASDAQ:LPRO)

Key Points

• Royce & Associates LP has reduced its stake in Open Lending Corporation by 25.7%, selling 200,000 shares to hold approximately 577,035 shares valued at about $1.6 million.
• Institutional ownership of Open Lending stands at 78.06%, with notable transactions including Price T Rowe Associates increasing their stake by 7.8% in the last quarter.
• Wall Street analysts have given Open Lending a consensus rating of "Hold" with a price target averaging $4.12, reflecting mixed sentiment in the market.

Royce & Associates LP lessened its stake in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 25.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 577,035 shares of the company's stock after selling 200,000 shares during the quarter. Royce & Associates LP owned approximately 0.48% of Open Lending worth $1,593,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LPRO. Quantbot Technologies LP acquired a new stake in shares of Open Lending in the fourth quarter valued at approximately $54,000. Ameriprise Financial Inc. acquired a new stake in shares of Open Lending in the fourth quarter valued at approximately $80,000. BNP Paribas Financial Markets acquired a new stake in shares of Open Lending in the fourth quarter valued at approximately $87,000. Teacher Retirement System of Texas acquired a new stake in shares of Open Lending in the first quarter valued at approximately $41,000. Finally, Quantinno Capital Management LP increased its stake in shares of Open Lending by 69.2% in 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 period. Institutional investors and hedge funds own 78.06% of the company's stock.

Insider Buying and Selling at Open Lending

In other Open Lending news, CEO Jessica E. Buss purchased 12,975 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the acquisition, the chief executive officer owned 46,446 shares of the company's stock, valued at $89,640.78. This trade represents a 38.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.20% of the company's stock.

Open Lending Stock Down 2.5%

LPRO stock traded down $0.06 during midday trading on Friday, reaching $2.14. The company had a trading volume of 489,149 shares, compared to its average volume of 1,782,184. Open Lending Corporation has a 1 year low of $0.70 and a 1 year high of $6.92. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $255.73 million, a P/E ratio of -1.82 and a beta of 1.93. The company has a 50 day moving average of $2.19 and a two-hundred day moving average of $2.99.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $24.39 million during the quarter, compared to analysts' expectations of $24.78 million. On average, equities research analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LPRO has been the subject of several recent analyst reports. Needham & Company LLC increased their price objective on shares of Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, May 9th. Citizens Jmp initiated coverage on shares of Open Lending in a report on Friday, April 4th. They issued a "market perform" rating for the company. DA Davidson reiterated a "buy" rating and issued a $4.00 price objective on shares of Open Lending in a report on Wednesday, April 16th. Finally, Stephens initiated coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Open Lending presently has a consensus rating of "Hold" and an average target price of $4.12.

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.