Open Lending Corporation $LPRO is Palogic Value Management L.P.’s Largest Position

Palogic Value Management L.P. increased its position in Open Lending Corporation (NASDAQ:LPRO) by 440.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,900,000 shares of the company’s stock after buying an additional 4,807,323 shares during the quarter. Open Lending comprises 4.7% of Palogic Value Management L.P.’s holdings, making the stock its largest position. Palogic Value Management L.P.’s holdings in Open Lending were worth $11,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LPRO. R Squared Ltd bought a new stake in Open Lending in the 2nd quarter worth approximately $28,000. Brighton Jones LLC bought a new stake in Open Lending in the 2nd quarter worth approximately $30,000. Summit Securities Group LLC bought a new stake in Open Lending in the 1st quarter worth approximately $32,000. Focus Partners Advisor Solutions LLC bought a new stake in Open Lending in the 2nd quarter worth approximately $32,000. Finally, Blair William & Co. IL bought a new stake in Open Lending in the 2nd quarter worth approximately $39,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of LPRO stock opened at $1.90 on Friday. 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 fifty-two week low of $0.70 and a fifty-two week high of $6.92. The stock has a 50 day moving average price of $2.08 and a two-hundred day moving average price of $2.01. The company has a market capitalization of $224.52 million, a P/E ratio of -1.61 and a beta of 1.94.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $25.31 million during the quarter, compared to analysts’ expectations of $23.63 million. Analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.