Stock Traders Buy Large Volume of Open Lending Call Options (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO) was the target of unusually large options trading activity on Monday. Traders purchased 5,288 call options on the stock. This represents an increase of approximately 2,418% compared to the average volume of 210 call options.

Institutional Investors Weigh In On Open Lending

Several institutional investors and hedge funds have recently modified their holdings of LPRO. Invesco Ltd. boosted its stake in Open Lending by 1.5% in the 4th quarter. Invesco Ltd. now owns 157,318 shares of the company’s stock worth $939,000 after purchasing an additional 2,287 shares in the last quarter. LPL Financial LLC increased its holdings in Open Lending by 4.2% in the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock worth $492,000 after acquiring an additional 3,309 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Open Lending by 4.3% in the fourth quarter. Federated Hermes Inc. now owns 97,379 shares of the company’s stock worth $581,000 after purchasing an additional 4,059 shares during the period. R Squared Ltd bought a new stake in shares of Open Lending during the 4th quarter valued at $25,000. Finally, Two Sigma Securities LLC grew its position in shares of Open Lending by 26.9% during the fourth quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock worth $140,000 after purchasing an additional 4,962 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Trading Down 1.4 %

Shares of LPRO traded down $0.04 during trading hours on Monday, hitting $2.76. The company had a trading volume of 3,253,224 shares, compared to its average volume of 460,966. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 52-week low of $2.29 and a 52-week high of $6.97. The firm has a market cap of $329.41 million, a P/E ratio of 92.00 and a beta of 1.25. The stock’s 50 day moving average price is $4.94 and its 200 day moving average price is $5.57.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, January 29th. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.12.

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.