Exchange Traded Concepts LLC Has $304,000 Position in Open Lending Co. (NASDAQ:LPRO)

Exchange Traded Concepts LLC decreased its position in shares of Open Lending Co. (NASDAQ:LPRO) by 14.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,750 shares of the company’s stock after selling 8,414 shares during the period. Exchange Traded Concepts LLC’s holdings in Open Lending were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LPRO. Cubist Systematic Strategies LLC bought a new position in shares of Open Lending in the 2nd quarter valued at $33,000. SlateStone Wealth LLC acquired a new stake in Open Lending in the second quarter valued at about $70,000. QRG Capital Management Inc. grew its position in Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after acquiring an additional 2,824 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Open Lending during the second quarter worth about $110,000. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Open Lending by 100.0% in the second quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $112,000 after acquiring an additional 10,000 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Open Lending Stock Performance

Shares of Open Lending stock opened at $5.71 on Monday. The stock has a market cap of $680.43 million, a price-to-earnings ratio of 51.91 and a beta of 1.12. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70. The company’s fifty day moving average is $5.71 and its 200 day moving average is $5.76.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The company had revenue of $26.73 million during the quarter, compared to analyst estimates of $31.03 million. Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The company’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Sell-side analysts forecast that Open Lending Co. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

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