Glazer Capital LLC Invests $8.68 Million in Open Lending Corporation $LPRO

Glazer Capital LLC bought a new position in Open Lending Corporation (NASDAQ:LPRO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,790,724 shares of the company’s stock, valued at approximately $8,679,000. Glazer Capital LLC owned about 2.37% of Open Lending at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LPRO. BlackRock Inc. bought a new position in Open Lending during the 2nd quarter valued at approximately $24,522,000. Wasatch Advisors LP grew its position in shares of Open Lending by 11.3% in the 1st quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after buying an additional 716,509 shares during the last quarter. Whetstone Capital Advisors LLC increased its stake in shares of Open Lending by 34.0% during the fourth quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after buying an additional 1,525,926 shares during the period. LB Partners LLC increased its stake in shares of Open Lending by 2.9% during the first quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock valued at $6,751,000 after buying an additional 150,000 shares during the period. Finally, Cannell Capital LLC raised its holdings in shares of Open Lending by 87.1% during the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock valued at $6,977,000 after acquiring an additional 1,674,646 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Stock Performance

LPRO opened at $3.14 on Friday. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00. Open Lending Corporation has a 52 week low of $1.17 and a 52 week high of $3.15. The stock has a market cap of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. The business has a 50 day moving average of $3.13 and a 200-day moving average of $2.20.

Analyst Ratings Changes

Several analysts recently weighed in on LPRO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Northland Securities set a $3.15 price objective on shares of Open Lending in a report on Wednesday, June 17th. DA Davidson reaffirmed a “neutral” rating and set a $3.15 target price (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Open Lending to a “sell” rating in a research report on Saturday, August 1st. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.77.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.