Intech Investment Management LLC Invests $91,000 in Open Lending Co. (NASDAQ:LPRO)

Intech Investment Management LLC purchased a new stake in shares of Open Lending Co. (NASDAQ:LPRO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,918 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds have also bought and sold shares of the company. EVR Research LP purchased a new stake in shares of Open Lending during the 2nd quarter valued at $2,758,000. King Luther Capital Management Corp bought a new position in Open Lending during the second quarter valued at about $558,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Open Lending during the third quarter worth about $1,153,000. Royce & Associates LP raised its position in Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock worth $2,948,000 after acquiring an additional 290,602 shares during the period. Finally, QRG Capital Management Inc. raised 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 worth $81,000 after acquiring an additional 2,824 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Open Lending Stock Up 2.6 %

Shares of NASDAQ:LPRO opened at $5.86 on Monday. The stock has a market capitalization of $699.39 million, a P/E ratio of 195.33, a price-to-earnings-growth ratio of 2.56 and a beta of 1.16. The stock’s 50-day moving average price is $6.00 and its 200-day moving average price is $5.92. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 12-month low of $4.57 and a 12-month high of $8.70.

Analysts Set New Price Targets

LPRO has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. DA Davidson reduced their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Open Lending currently has an average rating of “Hold” and an average price target of $6.83.

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.