Zurcher Kantonalbank Zurich Cantonalbank Has $147,000 Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Open Lending Co. (NASDAQ:LPRO) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,308 shares of the company’s stock after selling 4,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Open Lending were worth $147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of Open Lending by 1.1% in the 3rd quarter. Swiss National Bank now owns 172,450 shares of the company’s stock valued at $1,262,000 after acquiring an additional 1,800 shares during the last quarter. Raymond James Trust N.A. grew its stake in Open Lending by 3.4% in the fourth quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock valued at $913,000 after acquiring an additional 3,556 shares during the period. Legato Capital Management LLC increased its holdings in shares of Open Lending by 17.6% in the fourth quarter. Legato Capital Management LLC now owns 33,119 shares of the company’s stock worth $282,000 after acquiring an additional 4,950 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Open Lending by 12.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 81,564 shares of the company’s stock worth $597,000 after purchasing an additional 8,907 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Open Lending by 30.5% during the 3rd quarter. Principal Financial Group Inc. now owns 40,467 shares of the company’s stock valued at $296,000 after purchasing an additional 9,454 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Up 5.3 %

LPRO stock opened at $5.57 on Thursday. The company has a quick ratio of 14.08, a current ratio of 14.08 and a debt-to-equity ratio of 0.68. The company has a market cap of $662.16 million, a price-to-earnings ratio of 32.76 and a beta of 1.03. The business has a 50 day moving average price of $5.95 and a two-hundred day moving average price of $6.74. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $11.99.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The company had revenue of $30.75 million during the quarter, compared to analyst estimates of $28.65 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Open Lending’s revenue was down 19.9% on a year-over-year basis. Analysts anticipate that Open Lending Co. will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the transaction, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Needham & Company LLC lowered their target price on Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group cut their price target on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Raymond James reiterated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.79.

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.