Open Lending Co. (NASDAQ:LPRO) Shares Sold by Kestrel Investment Management Corp

Kestrel Investment Management Corp reduced its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,000 shares of the company’s stock after selling 85,700 shares during the period. Open Lending makes up 2.2% of Kestrel Investment Management Corp’s holdings, making the stock its 24th largest position. Kestrel Investment Management Corp’s holdings in Open Lending were worth $3,191,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LPRO. Point72 Hong Kong Ltd purchased a new stake in shares of Open Lending in the first quarter worth about $41,000. Quarry LP purchased a new stake in shares of Open Lending in the second quarter worth about $29,000. PNC Financial Services Group Inc. boosted its stake in shares of Open Lending by 51.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock worth $89,000 after buying an additional 1,591 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Open Lending by 58.8% in the third quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock worth $85,000 after buying an additional 3,923 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Open Lending in the first quarter worth about $78,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LPRO shares. JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $4.00 to $7.00 in a research report on Tuesday, February 6th. Raymond James reiterated an “outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Open Lending in a research report on Wednesday, February 28th. Finally, Canaccord Genuity Group lowered their price target on Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.07.

Insider Activity

In related news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $7.25, for a total value of $362,500.00. Following the completion of the transaction, the director now directly owns 2,079,666 shares in the company, valued at $15,077,578.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 150,000 shares of company stock valued at $1,110,000. 18.30% of the stock is currently owned by corporate insiders.

Open Lending Trading Up 0.6 %

Shares of NASDAQ LPRO traded up $0.03 during trading on Friday, reaching $4.66. The stock had a trading volume of 551,074 shares, compared to its average volume of 459,635. Open Lending Co. has a fifty-two week low of $4.57 and a fifty-two week high of $11.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The business’s 50-day moving average price is $6.71 and its 200-day moving average price is $6.90. The company has a market cap of $553.98 million, a P/E ratio of 27.24 and a beta of 0.99.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The firm had revenue of $14.90 million during the quarter, compared to analyst estimates of $27.55 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was down 44.4% compared to the same quarter last year. On average, equities research analysts predict that Open Lending Co. will post 0.28 EPS for the current fiscal year.

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.