Wasatch Advisors LP Raises Holdings in Open Lending Co. (NASDAQ:LPRO)

Wasatch Advisors LP lifted its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,630,780 shares of the company’s stock after buying an additional 222,969 shares during the period. Wasatch Advisors LP owned about 13.95% of Open Lending worth $101,780,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LPRO. Cubist Systematic Strategies LLC purchased a new position in Open Lending in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after purchasing an additional 7,093 shares in the last quarter. SlateStone Wealth LLC purchased a new position in Open Lending in the 2nd quarter valued at approximately $70,000. QRG Capital Management Inc. increased its stake in Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Open Lending in the 3rd quarter valued at approximately $91,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPRO. DA Davidson dropped their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. JMP Securities dropped their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their price target on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Four 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 presently has a consensus rating of “Hold” and a consensus target price of $6.83.

Open Lending Price Performance

LPRO stock opened at $6.38 on Friday. Open Lending Co. has a 52-week low of $4.57 and a 52-week high of $8.70. The stock’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $5.94. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $761.45 million, a price-to-earnings ratio of 212.67, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13.

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.