Traders Buy High Volume of Call Options on Open Lending (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO) saw some unusual options trading activity on Monday. Investors purchased 5,288 call options on the stock. This is an increase of approximately 2,418% compared to the average volume of 210 call options.

Open Lending Stock Down 1.4 %

Shares of Open Lending stock traded down $0.04 on Monday, hitting $2.76. 3,253,224 shares of the company traded hands, compared to its average volume of 460,966. The company has a market cap of $329.41 million, a PE ratio of 92.00 and a beta of 1.25. Open Lending has a 12-month low of $2.29 and a 12-month high of $6.97. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $4.94 and a 200 day moving average price of $5.57.

Analysts Set New Price Targets

Several analysts have commented on LPRO shares. Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and lowered their price objective for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and a consensus target price of $6.12.

Hedge Funds Weigh In On Open Lending

Several institutional investors have recently bought and sold shares of LPRO. Wasatch Advisors LP grew its position in Open Lending by 0.6% during the fourth quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after buying an additional 105,449 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Open Lending by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock valued at $75,554,000 after buying an additional 920,630 shares during the last quarter. Vanguard Group Inc. raised its holdings in Open Lending by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after purchasing an additional 160,617 shares during the last quarter. State Street Corp lifted its holdings in Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after buying an additional 63,450 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Open Lending by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock valued at $14,293,000 after purchasing an additional 28,253 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Open Lending Company Profile

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.