5,992 Shares in Open Lending Co. (NASDAQ:LPRO) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Open Lending Co. (NASDAQ:LPRO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,992 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LPRO. Dean Capital Management raised its position in shares of Open Lending by 17.6% in the 4th quarter. Dean Capital Management now owns 33,119 shares of the company’s stock worth $282,000 after buying an additional 4,950 shares during the period. Cannell Capital LLC grew its holdings in shares of Open Lending by 55.4% during the 4th quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock worth $22,525,000 after purchasing an additional 943,429 shares during the period. G2 Investment Partners Management LLC acquired a new stake in Open Lending during the 4th quarter worth approximately $1,702,000. Palogic Value Management L.P. raised its holdings in Open Lending by 81.8% in the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock valued at $3,404,000 after buying an additional 180,000 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in Open Lending by 25.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company’s stock valued at $213,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Down 0.7 %

Shares of NASDAQ LPRO opened at $5.78 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $8.70. The stock’s 50-day simple moving average is $5.70 and its 200-day simple moving average is $5.79. The firm has a market cap of $688.77 million, a price-to-earnings ratio of 52.55 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $26.73 million for the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. Open Lending’s revenue for the quarter was down 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities analysts anticipate that Open Lending Co. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. DA Davidson lowered their price target on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 12th. JMP Securities reduced their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, Morgan Stanley decreased their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.56.

About Open Lending

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.