American Century Companies Inc. Has $1.28 Million Position in Open Lending Co. (NASDAQ:LPRO)

American Century Companies Inc. lessened its position in Open Lending Co. (NASDAQ:LPRO - Free Report) by 33.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,468 shares of the company's stock after selling 114,022 shares during the period. American Century Companies Inc. owned about 0.19% of Open Lending worth $1,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SlateStone Wealth LLC acquired a new stake in shares of Open Lending during the 2nd quarter worth about $70,000. QRG Capital Management Inc. increased its holdings in Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company's stock valued at $81,000 after buying an additional 2,824 shares during the period. Arizona State Retirement System increased its holdings in Open Lending by 32.2% in the 2nd quarter. Arizona State Retirement System now owns 28,288 shares of the company's stock valued at $158,000 after buying an additional 6,896 shares during the period. SpiderRock Advisors LLC bought a new position in Open Lending in the 1st quarter valued at about $166,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Open Lending by 25.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company's stock valued at $213,000 after buying an additional 5,000 shares during the period. Institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LPRO shares. Needham & Company LLC lowered shares of Open Lending from a "buy" rating to a "hold" rating in a report on Monday, July 22nd. Morgan Stanley decreased their price target on shares of Open Lending from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. DA Davidson decreased their price target on shares of Open Lending from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, August 12th. BTIG Research started coverage on shares of Open Lending in a report on Friday, June 7th. They set a "neutral" rating on the stock. Finally, JMP Securities decreased their price target on shares of Open Lending from $8.00 to $7.00 and set a "market outperform" rating on the stock in a report on Friday, August 9th. Six equities 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.com, the stock currently has an average rating of "Hold" and an average price target of $6.56.

Open Lending Trading Down 3.4 %

LPRO traded down $0.21 during trading on Tuesday, reaching $5.91. 261,204 shares of the company's stock were exchanged, compared to its average volume of 442,892. Open Lending Co. has a one year low of $4.57 and a one year high of $8.70. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $704.27 million, a PE ratio of 53.73 and a beta of 1.12. The firm has a fifty day moving average price of $5.72 and a two-hundred day moving average price of $5.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The business had revenue of $26.73 million for the quarter, compared to the consensus estimate of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The company's revenue was down 29.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts forecast that Open Lending Co. will post 0.18 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.