Open Lending Corp (NASDAQ: LPRO) stock jumped 0.34% on Monday to $5.93 against a previous-day closing price of $5.91. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.58 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $5.97 whereas the lowest price it dropped to was $5.88. The 52-week range on LPRO shows that it touched its highest point at $11.99 and its lowest point at $4.89 during that stretch. It currently has a 1-year price target of $7.35. Beta for the stock currently stands at 0.86.
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 3.13%, but this was down by -6.17% over a month. Three-month performance dropped to -28.64% while six-month performance fell -40.64%. The stock lost -11.62% in the past year, while it has lost -12.15% so far this year. A look at the trailing 12-month EPS for LPRO yields 0.19 with Next year EPS estimates of 0.30. For the next quarter, that number is 0.05. This implies an EPS growth rate of -48.92% for this year and 9.69% for next year.
Float and Shares Shorts:
At present, 123.65 million LPRO shares are outstanding with a float of 97.97 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.29 million, which was 2.75% higher than short shares on Sep 28, 2023. In addition to Mr. Keith A. Jezek as the firm’s CEO & Director, Mr. Charles D. Jehl serves as its Executive VP, CFO & Treasurer.
Through their ownership of 79.54% of LPRO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.59% of LPRO, in contrast to 36.03% held by mutual funds. Shares owned by individuals account for 29.17%. As the largest shareholder in LPRO with 13.78% of the stake, Wasatch Advisors, Inc. holds 16,626,486 shares worth 16,626,486. A second-largest stockholder of LPRO, T. Rowe Price Associates, Inc., holds 10,429,170 shares, controlling over 8.64% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in LPRO, holding 9,163,341 shares or 7.59% stake. With a 5.09% stake in LPRO, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 6,143,073 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.43% of LPRO stock, is the second-largest Mutual Fund holder. It holds 2,935,132 shares valued at 17.58 million. Wasatch Core Growth Fund holds 2.40% of the stake in LPRO, owning 2,891,061 shares worth 17.32 million.
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 $10.00 and a low target of $4.00, the average target price over the next 12 months is $7.35. Based on these targets, LPRO could surge 68.63% to reach the target high and fall by -32.55% to reach the target low. Reaching the average price target will result in a growth of 23.95% from current levels.
Summary of Insider Activity:
Insiders traded LPRO stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 150,000 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 145,120 while 380,365 shares were sold.