724,590 Shares in Open Lending Co. (NASDAQ:LPRO) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Open Lending Co. (NASDAQ:LPRO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 724,590 shares of the company’s stock, valued at approximately $4,326,000. Raymond James Financial Inc. owned approximately 0.61% of Open Lending as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Open Lending in the fourth quarter valued at $25,000. Quantbot Technologies LP bought a new stake in Open Lending in the fourth quarter worth about $54,000. Proficio Capital Partners LLC acquired a new stake in Open Lending in the 4th quarter valued at about $95,000. KLP Kapitalforvaltning AS bought a new position in shares of Open Lending during the 4th quarter valued at about $124,000. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Open Lending by 16.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock worth $274,000 after purchasing an additional 7,166 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Stock Performance

Shares of LPRO stock opened at $1.28 on Friday. The stock’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $4.83. The company has a market capitalization of $153.32 million, a price-to-earnings ratio of 42.67 and a beta of 1.57. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 1-year low of $0.70 and a 1-year high of $6.97.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). The business had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Open Lending Co. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LPRO has been the subject of a number of research reports. Needham & Company LLC reduced their target price on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Citizens Jmp started coverage on Open Lending in a research report on Friday, April 4th. They set a “market perform” rating on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.62.

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.