100,000 Shares in Open Lending Co. (NASDAQ:LPRO) Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp acquired a new stake in Open Lending Co. (NASDAQ:LPRO) in the second quarter, according to its most recent filing with the SEC. The fund acquired 100,000 shares of the company’s stock, valued at approximately $558,000. King Luther Capital Management Corp owned approximately 0.08% of Open Lending at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cannell Capital LLC lifted its holdings in shares of Open Lending by 55.4% in the fourth quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock worth $22,525,000 after buying an additional 943,429 shares in the last quarter. Working Capital Advisors UK Ltd. boosted its holdings in Open Lending by 10.2% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock valued at $60,323,000 after purchasing an additional 658,240 shares during the period. Wasatch Advisors LP grew its position in shares of Open Lending by 3.5% during the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after purchasing an additional 546,166 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Open Lending in the fourth quarter worth $1,702,000. Finally, Palogic Value Management L.P. raised its position in shares of Open Lending by 81.8% in the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock worth $3,404,000 after buying an additional 180,000 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

LPRO has been the subject of several recent analyst reports. JMP Securities reduced their target price on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. DA Davidson cut 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. Needham & Company LLC cut shares of Open Lending from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. BTIG Research assumed coverage on shares of Open Lending in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Morgan Stanley decreased their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.56.

Open Lending Stock Down 2.1 %

Shares of LPRO opened at $6.05 on Monday. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $8.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. The stock has a 50 day simple moving average of $5.74 and a two-hundred day simple moving average of $5.86. The firm has a market cap of $720.95 million, a P/E ratio of 55.00 and a beta of 1.12.

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

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.