Insider Sale: Open Lending Co. (NASDAQ: LPRO) Insider Sells 10,000 Shares
Open Lending Co. (NASDAQ: LPRO) insider Ross M. Jessup sold 10,000 shares of the company in a trade dated Friday, October 1. The shares were sold for an average price of $ 35.26, for a total value of $ 352,600.00. The sale was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this link.
LPRO shares traded down $ 0.49 during trading hours on Wednesday, reaching $ 33.82. 384,843 shares of the company traded hands, compared to its average volume of 1,056,917. The company’s fifty-day moving average price is $ 37.52 and its two-hundred-day moving average price is 38 , $ 21. The company has a market cap of $ 4.27 billion, a price-to-earnings ratio of 169.10 and a beta of 0.38. The company has a rapid ratio of 9.13, a current ratio of 9.13 and a debt ratio of 1.49. Open Lending Co. has a 12 month low of $ 24.67 and a 12 month high of $ 44.00.
Open Lending (NASDAQ: LPRO) last released its quarterly earnings data on Monday, August 9. The company reported EPS of $ 0.60 for the quarter, beating the consensus estimate of $ 0.17 by $ 0.43. Open Lending had a net margin of 18.85% and a return on equity of 158.97%. The company posted revenue of $ 61.13 million for the quarter, compared to analysts’ estimates of $ 48.96 million. In the same quarter of the previous year, the company posted ($ 1.01) earnings per share. Quarterly Open Lending revenue increased 177.0% year-on-year. On average, analysts expect Open Lending Co. to have EPS of 0.88 for the current year.
Several brokerage firms have published reports on LPRO. Goldman Sachs Group Downgraded Open Lending from a “Buy” Rating to a “Neutral” Rating and Cut its Target Price for the Share from $ 43.00 to $ 40.00 in a Research Note on Friday July 23. Needham & Company LLC raised its target price on Open Lending from $ 50.00 to $ 53.00 and gave the stock a “buy” rating in a research note on Wednesday, August 11. Zacks investment research downgraded Open Lending from a “buy” rating to a “hold” rating in a research note on Wednesday August 4th. DA Davidson raised his price target for Open Lending stocks from $ 45 to $ 50.00 and gave the stock a “buy” rating in a report released on Friday, August 13. Finally, Canaccord Genuity raised its price target for Open Lending shares from $ 45 to $ 55 and gave the company a “buy” rating in a report released on Monday, June 28. Four equity research analysts rated the stock with a conservation rating, eight issued a buy rating, and one gave the company’s stock a strong buy rating. Based on data from MarketBeat, Open Lending has a consensus rating of “Buy” and a consensus target price of $ 43.67.
Large investors have recently bought and sold stocks. Wolverine Asset Management LLC purchased a new stake in Open Lending during the first quarter valued at approximately $ 30,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Open Lending during the first quarter for a value of approximately $ 33,000. Corsicana & Co. purchased a new stake in Open Lending during the second quarter valued at approximately $ 43,000. Rockefeller Capital Management LP increased its stake in Open Lending by 149.1% during the first quarter. Rockefeller Capital Management LP now owns 1,420 shares of the company valued at $ 50,000 after acquiring 850 additional shares in the last quarter. Finally, US Bancorp DE purchased a new stake in Open Lending during the second quarter valued at approximately $ 58,000. 80.97% of the shares are currently held by institutional investors and hedge funds.
About open loans
Open Lending Corp. provides loan activation and risk analysis to credit unions, regional banks and OEM Captives. It specializes in risk-based pricing and modeling and provides automated decision technology to auto lenders across the United States.
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