Algert Global LLC Sells 43,774 Shares of Open Lending Co. (NASDAQ:LPRO)

Algert Global LLC cut its position in Open Lending Co. (NASDAQ:LPRO) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 364,719 shares of the company’s stock after selling 43,774 shares during the period. Algert Global LLC owned approximately 0.31% of Open Lending worth $2,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Open Lending in the 4th quarter worth approximately $25,000. Quantbot Technologies LP purchased a new position in shares of Open Lending in the fourth quarter worth $54,000. Proficio Capital Partners LLC bought a new position in shares of Open Lending during the fourth quarter valued at $95,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Open Lending during the fourth quarter valued at $124,000. Finally, Two Sigma Securities LLC increased its holdings in Open Lending by 26.9% in the 4th quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock worth $140,000 after buying an additional 4,962 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 17.7 %

Shares of LPRO stock opened at $1.83 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 company has a market cap of $218.60 million, a price-to-earnings ratio of 60.83 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. The firm has a fifty day moving average price of $2.18 and a 200-day moving average price of $4.57.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LPRO. Needham & Company LLC reduced their price target on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citizens Jmp assumed coverage on shares of Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating for the company. DA Davidson reissued a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Wednesday, April 16th. Finally, Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.34.

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.