Open Lending Co. (NASDAQ:LPRO) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC trimmed its position in Open Lending Co. (NASDAQ:LPRO) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,736 shares of the company’s stock after selling 11,392 shares during the period. Main Management ETF Advisors LLC’s holdings in Open Lending were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Open Lending during the 4th quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in shares of Open Lending during the fourth quarter worth about $54,000. Ameriprise Financial Inc. purchased a new stake in Open Lending in the fourth quarter valued at approximately $80,000. BNP Paribas Financial Markets acquired a new position in Open Lending in the 4th quarter worth approximately $87,000. Finally, Proficio Capital Partners LLC acquired a new position in Open Lending in the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

LPRO has been the subject of several research reports. Needham & Company LLC lifted their price objective on shares of Open Lending from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Friday, May 9th. DA Davidson reissued a “buy” rating and set a $4.00 target price on shares of Open Lending in a report on Wednesday, April 16th. Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and lowered their price target for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Finally, Citizens Jmp assumed coverage on Open Lending in a research report on Friday, April 4th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.44.

Open Lending Price Performance

Shares of Open Lending stock opened at $2.00 on Wednesday. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a market cap of $239.57 million, a PE ratio of 66.67 and a beta of 1.79. The business has a 50-day moving average price of $2.02 and a 200 day moving average price of $4.49. Open Lending Co. has a twelve month low of $0.70 and a twelve month high of $6.97.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $24.39 million during the quarter, compared to the consensus estimate of $24.78 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. Sell-side analysts predict that Open Lending Co. will post 0.1 earnings per share 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.