Rhumbline Advisers Has $872,000 Position in Open Lending Co. (NASDAQ:LPRO)

Rhumbline Advisers lifted its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 146,101 shares of the company’s stock after purchasing an additional 5,149 shares during the period. Rhumbline Advisers owned 0.12% of Open Lending worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in Open Lending by 24.4% during the 3rd quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after purchasing an additional 3,561 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Open Lending during the 4th quarter worth approximately $25,000. Verition Fund Management LLC raised its stake in shares of Open Lending by 27.4% during the third quarter. Verition Fund Management LLC now owns 28,558 shares of the company’s stock worth $175,000 after buying an additional 6,150 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Open Lending by 16.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock valued at $274,000 after buying an additional 7,166 shares during the period. Finally, Algert Global LLC lifted its holdings in Open Lending by 2.4% in the third quarter. Algert Global LLC now owns 408,493 shares of the company’s stock valued at $2,500,000 after buying an additional 9,580 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Open Lending presently has an average rating of “Moderate Buy” and an average price target of $6.83.

Open Lending Stock Up 0.2 %

Open Lending stock opened at $4.73 on Friday. Open Lending Co. has a fifty-two week low of $4.33 and a fifty-two week high of $7.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The firm has a market capitalization of $564.53 million, a price-to-earnings ratio of 157.67 and a beta of 1.25. The company’s 50 day simple moving average is $5.52 and its 200 day simple moving average is $5.77.

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.