State Street Corp Has $15.58 Million Stock Holdings in Open Lending Co. (NASDAQ:LPRO)

State Street Corp lifted its position in Open Lending Co. (NASDAQ:LPRO) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545,783 shares of the company’s stock after acquiring an additional 63,450 shares during the quarter. State Street Corp owned approximately 2.13% of Open Lending worth $15,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Open Lending in the 2nd quarter valued at about $33,000. Blue Trust Inc. increased its stake in shares of Open Lending by 208.2% in the third quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after buying an additional 7,093 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Open Lending in the third quarter worth about $68,000. Intech Investment Management LLC bought a new stake in Open Lending in the third quarter valued at $91,000. Finally, QRG Capital Management Inc. raised its stake in Open Lending by 24.4% in the third quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after buying an additional 3,561 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Up 2.4 %

Open Lending stock opened at $5.86 on Wednesday. The firm has a market cap of $699.39 million, a price-to-earnings ratio of 195.33, a PEG ratio of 2.46 and a beta of 1.16. 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. The stock has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $5.88.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.83.

Open Lending Profile

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.