Wasatch Advisors LP Reduces Holdings in Open Lending Corporation $LPRO

Wasatch Advisors LP trimmed its position in shares of Open Lending Corporation (NASDAQ:LPRO) by 30.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,871,864 shares of the company’s stock after selling 2,182,243 shares during the period. Wasatch Advisors LP’s holdings in Open Lending were worth $15,151,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Cannell Capital LLC lifted its position 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 worth $6,977,000 after purchasing an additional 1,674,646 shares during the last quarter. Veradace Capital Management LLC purchased a new stake in shares of Open Lending during the fourth quarter valued at $2,372,000. Whetstone Capital Advisors LLC grew its holdings in shares of Open Lending by 34.0% in the fourth quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock worth $9,323,000 after purchasing an additional 1,525,926 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Open Lending by 1,577.7% in the second quarter. JPMorgan Chase & Co. now owns 848,424 shares of the company’s stock worth $1,646,000 after purchasing an additional 797,852 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Open Lending in the 4th quarter worth about $1,191,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of Open Lending stock opened at $3.14 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. The stock has a market cap of $369.50 million, a price-to-earnings ratio of -78.50 and a beta of 2.19. The firm’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.10. Open Lending Corporation has a 1 year low of $1.17 and a 1 year high of $3.15.

Analyst Ratings Changes

LPRO has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Open Lending to a “sell” rating in a report on Saturday, August 1st. Northland Securities set a $3.15 price target on shares of Open Lending in a research note on Wednesday, June 17th. DA Davidson reissued a “neutral” rating and issued a $3.15 price objective (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Open Lending has an average rating of “Reduce” and an average 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.