Wasatch Advisors LP Boosts Stake in Open Lending Corporation $LPRO

by · The Markets Daily

Wasatch Advisors LP increased its holdings in shares of Open Lending Corporation (NASDAQ:LPRO – Free Report) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,054,107 shares of the company’s stock after purchasing an additional 716,509 shares during the quarter. Wasatch Advisors LP owned 0.06% of Open Lending worth $8,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Portolan Capital Management LLC purchased a new stake in shares of Open Lending during the 3rd quarter valued at about $7,752,000. Whetstone Capital Advisors LLC raised its holdings in shares of Open Lending by 34.0% during the fourth quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after purchasing an additional 1,525,926 shares during the last quarter. R Squared Ltd raised its holdings in shares of Open Lending by 49.3% during the third quarter. R Squared Ltd now owns 21,543 shares of the company’s stock valued at $45,000 after purchasing an additional 7,111 shares during the last quarter. Caxton Associates LLP bought a new position in Open Lending during the first quarter valued at approximately $54,000. Finally, Captrust Financial Advisors bought a new position in Open Lending during the second quarter valued at approximately $47,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPRO has been the subject of a number of research reports. DA Davidson reiterated a “neutral” rating and set a $3.15 target price (up from $3.00) on shares of Open Lending in a research note on Friday. Wall Street Zen downgraded Open Lending from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $2.00 price objective on shares of Open Lending in a research report on Tuesday, March 17th. Finally, Northland Securities set a $3.15 target price on Open Lending in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.77.

Read Our Latest Analysis on Open Lending

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $3.12 on Friday. The firm has a 50 day moving average of $2.16 and a 200 day moving average of $1.78. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $367.16 million, a price-to-earnings ratio of -78.00 and a beta of 2.28. Open Lending Corporation has a 12-month low of $1.17 and a 12-month high of $3.13.

Open Lending (NASDAQ:LPRO – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.00) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The business had revenue of $20.49 million for the quarter, compared to analysts’ expectations of $20.41 million. On average, research analysts anticipate that Open Lending Corporation will post 0.08 earnings per share for the current year.

Open Lending Company Profile

(Free Report)

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.

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