Charles Schwab Investment Management Inc. Decreases Holdings in Open Lending Co. (NASDAQ:LPRO)

Charles Schwab Investment Management Inc. decreased its holdings in Open Lending Co. (NASDAQ:LPRO - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 752,397 shares of the company's stock after selling 89,516 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of Open Lending worth $4,492,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LPRO. Wasatch Advisors LP increased its position in Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company's stock worth $101,780,000 after purchasing an additional 222,969 shares in the last quarter. State Street Corp increased its holdings in shares of Open Lending by 2.6% during the third quarter. State Street Corp now owns 2,545,783 shares of the company's stock worth $15,580,000 after buying an additional 63,450 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Open Lending by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company's stock valued at $14,478,000 after acquiring an additional 68,721 shares during the last quarter. Algert Global LLC raised its holdings in Open Lending by 2.4% in the 3rd quarter. Algert Global LLC now owns 408,493 shares of the company's stock valued at $2,500,000 after buying an additional 9,580 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Open Lending by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 311,737 shares of the company's stock worth $1,861,000 after buying an additional 8,052 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LPRO. Needham & Company LLC upgraded shares of Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a research report on Wednesday, January 29th. 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 research note on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.12.

Open Lending Stock Down 4.1 %

LPRO stock traded down $0.12 during trading on Friday, reaching $2.80. 2,442,880 shares of the stock were exchanged, compared to its average volume of 449,795. The firm's 50 day moving average is $4.94 and its 200 day moving average is $5.57. The firm has a market cap of $334.18 million, a P/E ratio of 93.33 and a beta of 1.25. 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 twelve month low of $2.72 and a twelve month high of $6.97.

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.