Open Lending Corporation $LPRO Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. sold 2,068,056 shares of Open Lending Corporation, reducing its stake by 20.3% to a total of 8,110,860 shares, valued at approximately $22.39 million.
• Several institutional investors, including Northern Trust Corp and Deutsche Bank AG, increased their positions in Open Lending, with Deutsche Bank's stake growing by 52.2%.
• The company reported earnings of $0.01 per share, missing consensus estimates, while its revenue for the quarter was $25.31 million, exceeding estimates of $23.63 million.

Vanguard Group Inc. reduced its stake in shares of Open Lending Corporation (NASDAQ:LPRO - Free Report) by 20.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,110,860 shares of the company's stock after selling 2,068,056 shares during the period. Vanguard Group Inc. owned approximately 6.77% of Open Lending worth $22,386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SlateStone Wealth LLC grew its position in Open Lending by 78.3% during the 1st quarter. SlateStone Wealth LLC now owns 28,841 shares of the company's stock worth $80,000 after purchasing an additional 12,667 shares during the period. XTX Topco Ltd acquired a new stake in shares of Open Lending during the 1st quarter valued at about $76,000. Federated Hermes Inc. grew its position in shares of Open Lending by 10.9% during the 1st quarter. Federated Hermes Inc. now owns 108,024 shares of the company's stock valued at $298,000 after acquiring an additional 10,645 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Open Lending during the 1st quarter valued at about $41,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Open Lending by 18.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 124,044 shares of the company's stock valued at $342,000 after acquiring an additional 19,107 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LPRO. Needham & Company LLC raised their target price on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, May 9th. Raymond James Financial restated an "outperform" rating and set a $2.80 target price (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Finally, Stephens began coverage on Open Lending in a research report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned 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.

Open Lending Price Performance

LPRO stock traded up $0.06 during trading on Wednesday, hitting $2.27. The stock had a trading volume of 654,851 shares, compared to its average volume of 679,979. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. Open Lending Corporation has a twelve month low of $0.70 and a twelve month high of $6.92. The stock has a market capitalization of $268.25 million, a P/E ratio of -1.92 and a beta of 1.83. The company's 50-day moving average price is $2.25 and its two-hundred day moving average price is $2.39.

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