Insider Selling: Open Lending Co. (NASDAQ:LPRO) Director Sells 50,000 Shares of Stock

Open Lending Co. (NASDAQ:LPRO) Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website.

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 value 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 value of $380,000.00.
• On Monday, January 8th, John Joseph Flynn sold 50,000 shares of Open Lending stock. The shares were sold at an average price of $7.83, for a total transaction of $391,500.00.

Open Lending Trading Up 1.3 %

NASDAQ:LPRO opened at $6.19 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. Open Lending Co. has a fifty-two week low of $4.89 and a fifty-two week high of $11.99. The stock’s 50-day moving average is $7.34 and its two-hundred day moving average is $7.12. The stock has a market cap of $735.87 million, a PE ratio of 36.41 and a beta of 1.01.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $14.90 million for the quarter, compared to analyst estimates of $27.55 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The firm’s quarterly revenue was down 44.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, equities research analysts forecast that Open Lending Co. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Open Lending during the second quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Open Lending during the first quarter valued at approximately $41,000. Envestnet Asset Management Inc. bought a new stake in shares of Open Lending during the first quarter valued at approximately $78,000. QRG Capital Management Inc. bought a new stake in shares of Open Lending during the third quarter valued at approximately $84,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Open Lending by 58.8% during 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LPRO. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a report on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $8.00 target price on shares of Open Lending in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of Open Lending in a report on Wednesday, February 28th. Canaccord Genuity Group dropped their price target on Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Open Lending presently 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.