King Luther Capital Management Corp Purchases 100,000 Shares of Open Lending Co. (NASDAQ:LPRO)

King Luther Capital Management Corp grew its position in Open Lending Co. (NASDAQ:LPRO) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. King Luther Capital Management Corp owned about 0.17% of Open Lending worth $1,224,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Open Lending in the second quarter valued at about $33,000. Blue Trust Inc. raised its position in shares of 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 during the last quarter. SlateStone Wealth LLC acquired a new stake in Open Lending in the 2nd quarter worth approximately $70,000. QRG Capital Management Inc. grew its position in Open Lending by 24.0% during the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after purchasing an additional 2,824 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Open Lending during the 2nd quarter valued at approximately $110,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Price Performance

LPRO stock opened at $6.47 on Friday. The business has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $5.92. The firm has a market capitalization of $772.19 million, a PE ratio of 215.67, a price-to-earnings-growth ratio of 2.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $8.70.

Analyst Ratings Changes

A number of brokerages recently issued reports on LPRO. 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 note on Friday, August 9th. DA Davidson reduced their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.