Open Lending Corporation (NASDAQ: LPRO) stock jumped 2.98% on Tuesday to $8.64 against a previous-day closing price of $8.39. With 0.97 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.85 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $8.75 whereas the lowest price it dropped to was $8.31. The 52-week range on LPRO shows that it touched its highest point at $21.12 and its lowest point at $6.11 during that stretch. It currently has a 1-year price target of $12.65. Beta for the stock currently stands at 0.68.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LPRO was up-trending over the past week, with a rise of 6.54%, but this was up by 29.15% over a month. Three-month performance surged to 24.32% while six-month performance fell -15.04%. The stock lost -53.37% in the past year, while it has gained 28.00% so far this year. A look at the trailing 12-month EPS for LPRO yields 0.78 with Next year EPS estimates of 0.54. For the next quarter, that number is 0.10. This implies an EPS growth rate of 205.60% for this year and -18.28% for next year.
Float and Shares Shorts:
At present, 126.23 million LPRO shares are outstanding with a float of 112.14 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.23 million, which was 5.73% higher than short shares on Sep 14, 2022. In addition to Mr. Charles D. Jehl as the firm’s Exec. VP, CFO & Treasurer, Mr. Keith A. Jezek serves as its CEO & Director.
Through their ownership of 79.09% of LPRO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.91% of LPRO, in contrast to 35.02% held by mutual funds. Shares owned by individuals account for 29.57%. As the largest shareholder in LPRO with 13.58% of the stake, Wasatch Advisors, Inc. holds 17,148,682 shares worth 17,148,682. A second-largest stockholder of LPRO, T. Rowe Price Associates, Inc., holds 10,921,736 shares, controlling over 8.65% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in LPRO, holding 8,893,726 shares or 7.04% stake. With a 5.28% stake in LPRO, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 6,663,384 shares are owned by the mutual fund manager. The Wasatch Core Growth Fund, which owns about 2.25% of LPRO stock, is the second-largest Mutual Fund holder. It holds 2,843,303 shares valued at 19.19 million. Vanguard Total Stock Market Index holds 2.22% of the stake in LPRO, owning 2,801,319 shares worth 18.91 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LPRO since 11 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LPRO analysts setting a high price target of $30.00 and a low target of $5.50, the average target price over the next 12 months is $12.45. Based on these targets, LPRO could surge 247.22% to reach the target high and fall by -36.34% to reach the target low. Reaching the average price target will result in a growth of 44.1% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LPRO will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of $0.71 being high and $0.63 being low. For LPRO, this leads to a yearly average estimate of $0.66. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Open Lending Corporation surprised analysts by $0.04 when it reported $0.19 EPS against a consensus estimate of $0.15. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is $0.13 and the low estimate is $0.07. The average estimate for the next quarter is thus $0.10.
Summary of Insider Activity:
Insiders traded LPRO stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 82,210 shares were bought while 20,873 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 105,049 while 25,632 shares were sold.