Open Lending Co. (NASDAQ:LPRO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Open Lending Co. (NASDAQ:LPRO - Free Report) by 69.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 309,945 shares of the company's stock after selling 704,217 shares during the quarter. JPMorgan Chase & Co. owned about 0.26% of Open Lending worth $1,850,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its holdings in shares of Open Lending by 4.2% during the fourth quarter. LPL Financial LLC now owns 82,461 shares of the company's stock worth $492,000 after purchasing an additional 3,309 shares during the period. R Squared Ltd purchased a new position in Open Lending during the 4th quarter worth approximately $25,000. Rhumbline Advisers lifted its stake in Open Lending by 3.7% during the 4th quarter. Rhumbline Advisers now owns 146,101 shares of the company's stock valued at $872,000 after acquiring an additional 5,149 shares during the period. Chicago Partners Investment Group LLC boosted its holdings 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 valued at $274,000 after acquiring an additional 7,166 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Open Lending by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 311,737 shares of the company's stock worth $1,861,000 after acquiring an additional 8,052 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LPRO. Jefferies Financial Group downgraded shares of Open Lending from a "buy" rating to a "hold" rating and decreased their target price for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. DA Davidson reissued a "buy" rating and issued a $4.00 price objective on shares of Open Lending in a report on Wednesday, April 16th. Needham & Company LLC dropped their target price on Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Citizens Jmp assumed coverage on Open Lending in a research report on Friday, April 4th. They set a "market perform" rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Open Lending currently has a consensus rating of "Hold" and a consensus price target of $4.62.

Open Lending Price Performance

Shares of NASDAQ:LPRO traded down $0.02 during trading on Monday, reaching $1.26. 3,926,199 shares of the company's stock traded hands, compared to its average volume of 953,567. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a fifty-two week low of $0.70 and a fifty-two week high of $6.97. The company has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $4.83. The firm has a market cap of $150.93 million, a PE ratio of 42.00 and a beta of 1.57.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($1.23). The business had revenue of $24.23 million for the quarter, compared to analysts' expectations of $24.03 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same quarter in the prior year, the company posted ($0.04) EPS. As a group, analysts predict that Open Lending Co. will post 0.1 earnings per share for the current 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.