Open Lending Co. (NASDAQ:LPRO) Stake Raised by Valmark Advisers Inc.

Valmark Advisers Inc. grew its holdings in shares of Open Lending Co. (NASDAQ:LPROGet Rating) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,231 shares of the company’s stock after buying an additional 952 shares during the period. Valmark Advisers Inc.’s holdings in Open Lending were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of Open Lending during the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC grew its position in Open Lending by 182.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock worth $43,000 after buying an additional 1,460 shares during the last quarter. Carl Stuart Investment Advisor Inc. acquired a new position in Open Lending in the first quarter worth approximately $56,000. Versor Investments LP acquired a new position in Open Lending in the first quarter worth approximately $195,000. Finally, Envestnet Asset Management Inc. acquired a new position in Open Lending in the fourth quarter worth approximately $217,000. Institutional investors own 86.85% of the company’s stock.

Open Lending Stock Down 0.5 %

Open Lending stock opened at $11.60 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 32.22 and a beta of 0.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 18.48 and a quick ratio of 18.48. Open Lending Co. has a fifty-two week low of $9.12 and a fifty-two week high of $42.91. The firm has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $14.48.

Open Lending (NASDAQ:LPROGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Open Lending had a net margin of 21.02% and a return on equity of 26.40%. The firm had revenue of $52.10 million during the quarter, compared to analyst estimates of $48.40 million. During the same quarter in the previous year, the business earned $0.25 EPS. The business’s revenue was down 14.7% on a year-over-year basis. As a group, analysts forecast that Open Lending Co. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Open Lending from $32.00 to $26.00 in a research report on Monday, August 8th. Raymond James decreased their price target on shares of Open Lending from $30.00 to $22.00 in a research report on Friday, May 6th. Morgan Stanley lowered their price objective on shares of Open Lending from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Open Lending from $18.00 to $16.00 in a research report on Thursday, July 28th. Finally, Canaccord Genuity Group decreased their target price on shares of Open Lending from $55.00 to $30.00 in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Open Lending presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.89.

About Open Lending

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Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

See Also

Institutional Ownership by Quarter for Open Lending (NASDAQ:LPRO)

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