Sei Investments Co. raised its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 65.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 36,565 shares of the company’s stock after purchasing an additional 14,492 shares during the quarter. Sei Investments Co.’s holdings in Open Lending were worth $932,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Open Lending by 3.3% during the 3rd quarter. Raymond James & Associates now owns 32,362 shares of the company’s stock worth $825,000 after buying an additional 1,030 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Open Lending by 16.9% during the 3rd quarter. Westwood Holdings Group Inc. now owns 22,851 shares of the company’s stock worth $583,000 after purchasing an additional 3,298 shares in the last quarter. Jefferies Group LLC bought a new stake in Open Lending in the 3rd quarter valued at $255,000. Squarepoint Ops LLC acquired a new position in Open Lending in the 3rd quarter valued at $266,000. Finally, Paloma Partners Management Co acquired a new position in Open Lending in the 3rd quarter valued at $273,000. Institutional investors own 23.53% of the company’s stock.
In other Open Lending news, Director Blair J. Greenberg sold 4,835,747 shares of the stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $26.88, for a total value of $129,984,879.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Joseph Flynn sold 460,061 shares of the firm’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $26.88, for a total value of $12,366,439.68. Following the transaction, the insider now owns 3,799,662 shares of the company’s stock, valued at $102,134,914.56. The disclosure for this sale can be found here. Insiders sold 9,709,479 shares of company stock valued at $260,990,796 over the last quarter. Corporate insiders own 20.00% of the company’s stock.
Open Lending (NASDAQ:LPRO) last posted its earnings results on Sunday, November 15th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $29.76 million during the quarter, compared to the consensus estimate of $26.20 million. Equities analysts predict that Open Lending Co. will post 0.34 EPS for the current fiscal year.
Several analysts have recently issued reports on the company. JMP Securities assumed coverage on Open Lending in a report on Thursday, October 1st. They set an “outperform” rating and a $31.00 target price on the stock. DA Davidson assumed coverage on Open Lending in a report on Wednesday, September 23rd. They set a “buy” rating and a $29.00 target price on the stock. B. Riley assumed coverage on Open Lending in a report on Friday, November 13th. They set a “neutral” rating and a $30.00 target price on the stock. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their target price on Open Lending from $35.00 to $50.00 in a report on Monday, December 14th. Finally, Jefferies Financial Group began coverage on Open Lending in a report on Tuesday, October 27th. They set a “buy” rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.60.
About Open Lending
Open Lending Corporation provides lending enablement and risk analytics solutions to financial institutions in the United States. The company, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling, and default insurance, ensuring profitable auto loan portfolios for financial institutions.
Further Reading: Retained Earnings
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