Insider Buying: Open Lending Co. (NASDAQ:LPRO) CEO Buys 12,975 Shares of Stock

Open Lending Co. (NASDAQ:LPRO) CEO Jessica E. Buss purchased 12,975 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 46,446 shares of the company’s stock, valued at $89,640.78. This represents a 38.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Open Lending Stock Performance

NASDAQ LPRO opened at $2.11 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The stock’s 50 day simple moving average is $1.92 and its 200-day simple moving average is $4.45. The company has a market cap of $252.14 million, a PE ratio of 70.17 and a beta of 1.79. Open Lending Co. has a 1-year low of $0.70 and a 1-year high of $6.97.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.39 million for the quarter, compared to analyst estimates of $24.78 million. As a group, equities research analysts anticipate that Open Lending Co. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on LPRO shares. DA Davidson restated a “buy” rating and issued a $4.00 price objective on shares of Open Lending in a research report on Wednesday, April 16th. Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Needham & Company LLC upped their price objective on shares of Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Citizens Jmp assumed coverage on shares of Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.44.

Institutional Investors Weigh In On Open Lending

A number of hedge funds have recently modified their holdings of LPRO. Raymond James Financial Inc. purchased a new stake in Open Lending during the 4th quarter valued at about $4,326,000. Royce & Associates LP boosted its holdings in shares of Open Lending by 61.3% during the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after purchasing an additional 295,395 shares during the last quarter. Barclays PLC grew its position in shares of Open Lending by 8.4% in the fourth quarter. Barclays PLC now owns 183,270 shares of the company’s stock valued at $1,094,000 after purchasing an additional 14,246 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Open Lending by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock valued at $75,554,000 after purchasing an additional 920,630 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Open Lending by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after buying an additional 160,617 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.