Wasatch Advisors LP Increases Position in Open Lending Co. (NASDAQ:LPRO)

Wasatch Advisors LP lifted its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,630,780 shares of the company’s stock after acquiring an additional 222,969 shares during the quarter. Wasatch Advisors LP owned 0.14% of Open Lending worth $101,780,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. EVR Research LP bought a new stake in Open Lending in the second quarter valued at about $2,758,000. King Luther Capital Management Corp bought a new stake in Open Lending in the second quarter valued at about $558,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Open Lending in the third quarter valued at about $1,153,000. Royce & Associates LP increased its holdings in Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after buying an additional 290,602 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after buying an additional 2,824 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LPRO has been the subject of a number of research reports. DA Davidson decreased their target price 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. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. JMP Securities decreased 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. Finally, Morgan Stanley decreased their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note 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. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and an average price target of $6.83.

Open Lending Price Performance

NASDAQ LPRO opened at $6.38 on Friday. The stock has a market capitalization of $761.45 million, a P/E ratio of 212.67, a P/E/G ratio of 2.75 and a beta of 1.13. Open Lending Co. has a 1 year low of $4.57 and a 1 year high of $8.70. The business’s fifty day moving average is $6.01 and its two-hundred day moving average is $5.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42.

Open Lending Company 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.