Open Lending Corporation (NASDAQ: LPRO) stock jumped 1.13% on Wednesday to $9.84 against a previous-day closing price of $9.73. With 0.61 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.0 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $9.87 whereas the lowest price it dropped to was $9.52. The 52-week range on LPRO shows that it touched its highest point at $13.97 and its lowest point at $5.35 during that stretch. It currently has a 1-year price target of $10.60. Beta for the stock currently stands at 0.72.
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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 3.14%, but this was up by 48.64% over a month. Three-month performance surged to 13.76% while six-month performance rose 39.18%. The stock lost -23.48% in the past year, while it has gained 45.78% so far this year. A look at the trailing 12-month EPS for LPRO yields 0.45 with Next year EPS estimates of 0.49. For the next quarter, that number is 0.09. This implies an EPS growth rate of -54.30% for this year and 41.95% for next year. EPS is expected to grow by 0.83% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 252.00%.
Float and Shares Shorts:
At present, 123.12 million LPRO shares are outstanding with a float of 112.05 million shares on hand for trading. On May 14, 2023, short shares totaled 4.61 million, which was 3.82% higher than short shares on Apr 13, 2023. In addition to Mr. Keith A. Jezek as the firm’s CEO & Director, Mr. Charles D. Jehl serves as its Exec. VP, CFO & Treasurer.
Institutional Ownership:
Through their ownership of 84.86% of LPRO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.57% of LPRO, in contrast to 35.81% held by mutual funds. Shares owned by individuals account for 27.36%. As the largest shareholder in LPRO with 13.89% of the stake, Wasatch Advisors, Inc. holds 17,184,721 shares worth 17,184,721. A second-largest stockholder of LPRO, T. Rowe Price Associates, Inc., holds 12,334,933 shares, controlling over 9.97% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in LPRO, holding 10,211,774 shares or 8.26% stake. With a 5.96% stake in LPRO, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 7,371,222 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.75% of LPRO stock, is the second-largest Mutual Fund holder. It holds 3,398,132 shares valued at 23.89 million. Wasatch Core Growth Fund holds 2.34% of the stake in LPRO, owning 2,891,061 shares worth 20.32 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, LPRO reported revenue of $52.04M and operating income of $32.81M. The EBITDA in the recently reported quarter was $33.14M and diluted EPS was $0.18.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LPRO since 0 analysts follow the stock currently. 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 $20.00 and a low target of $6.00, the average target price over the next 12 months is $10.60. Based on these targets, LPRO could surge 103.25% to reach the target high and fall by -39.02% to reach the target low. Reaching the average price target will result in a growth of 7.72% 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.
Summary of Insider Activity:
Insiders traded LPRO stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 4,655 shares were bought while 1,094 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 98,915 while 24,152 shares were sold.
