LB Partners LLC Takes Position in Open Lending Corporation $LPRO

LB Partners LLC purchased a new stake in shares of Open Lending Corporation (NASDAQ:LPRO) in the second quarter, HoldingsChannel.com reports. The fund purchased 5,050,841 shares of the company’s stock, valued at approximately $9,799,000. Open Lending comprises 6.3% of LB Partners LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Open Lending by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after purchasing an additional 1,245,763 shares in the last quarter. Working Capital Advisors UK Ltd. increased its stake in shares of Open Lending by 6.8% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock worth $26,921,000 after purchasing an additional 619,060 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of Open Lending during the 1st quarter worth approximately $8,139,000. Palogic Value Management L.P. increased its stake in shares of Open Lending by 52.2% during the 1st quarter. Palogic Value Management L.P. now owns 1,092,677 shares of the company’s stock worth $3,016,000 after purchasing an additional 374,629 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Open Lending by 13.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 855,481 shares of the company’s stock worth $2,361,000 after purchasing an additional 103,084 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LPRO shares. Raymond James Financial reissued an “outperform” rating and set a $2.80 price objective (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.10.

Open Lending Stock Up 4.8%

LPRO stock opened at $1.95 on Monday. The stock has a market capitalization of $230.43 million, a P/E ratio of -1.65 and a beta of 1.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.67 and a current ratio of 5.67. Open Lending Corporation has a one year low of $0.70 and a one year high of $6.92. The company has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $1.94.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $25.31 million for the quarter, compared to analysts’ expectations of $23.63 million. As a group, sell-side analysts expect that Open Lending Corporation will post 0.1 EPS for the current 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.