Insider Selling: Open Lending Co. (NASDAQ:LPRO) Director Sells $367,500.00 in Stock

Open Lending Co. (NASDAQ:LPRO) Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the sale, the director now owns 1,993,762 shares of the company’s stock, valued at approximately $14,654,150.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

John Joseph Flynn also recently made the following trade(s):

• On Wednesday, February 7th, John Joseph Flynn sold 50,000 shares of Open Lending stock. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00.
• On Monday, January 22nd, John Joseph Flynn sold 50,000 shares of Open Lending stock. The shares were sold at an average price of $7.60, for a total transaction of $380,000.00.
• On Monday, January 8th, John Joseph Flynn sold 50,000 shares of Open Lending stock. The stock was sold at an average price of $7.83, for a total transaction of $391,500.00.

Open Lending Trading Up 1.3 %

Shares of Open Lending stock opened at $6.19 on Thursday. The firm’s 50 day simple moving average is $7.34 and its two-hundred day simple moving average is $7.12. The firm has a market capitalization of $735.87 million, a price-to-earnings ratio of 36.41 and a beta of 1.01. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. Open Lending Co. has a 12-month low of $4.89 and a 12-month high of $11.99.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $14.90 million during the quarter, compared to analysts’ expectations of $27.55 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The firm’s revenue was down 44.4% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Analysts predict that Open Lending Co. will post 0.28 EPS for the current year.

Institutional Trading of Open Lending

Several large investors have recently made changes to their positions in LPRO. Point72 Hong Kong Ltd acquired a new stake in Open Lending during the first quarter valued at $41,000. Quarry LP acquired a new stake in Open Lending during the second quarter valued at $29,000. PNC Financial Services Group Inc. grew its position in Open Lending by 51.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after buying an additional 1,591 shares during the period. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Open Lending in the second quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Open Lending by 58.8% in the third quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after purchasing an additional 3,923 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LPRO has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Open Lending in a research note on Wednesday, February 28th. Canaccord Genuity Group reduced their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday. Morgan Stanley upgraded shares of Open Lending from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, Raymond James reiterated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Open Lending currently has an average rating of “Hold” and an average target price of $7.07.

About Open Lending

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.