GSA Capital Partners LLP bought a new stake in Open Lending Corporation (NASDAQ:LPRO – Free Report) in the 2nd quarter, Holdings Channel reports. The fund bought 604,999 shares of the company’s stock, valued at approximately $1,882,000.
Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Open Lending by 84.0% during the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after buying an additional 10,812 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Open Lending in the 1st quarter valued at about $43,000. Caxton Associates LLP acquired a new stake in shares of Open Lending during the first quarter valued at about $54,000. Jane Street Group LLC grew its stake in shares of Open Lending by 2,751.6% during the first quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock valued at $1,188,000 after acquiring an additional 415,298 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Open Lending by 4.0% during the second quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company’s stock worth $4,977,000 after acquiring an additional 98,515 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently commented on LPRO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. Wall Street Zen upgraded Open Lending to a “sell” rating in a research note on Saturday, August 1st. Northland Securities set a $3.15 price objective on Open Lending in a report on Wednesday, June 17th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $3.15 target price (up from $3.00) on shares of Open Lending in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.77.
Open Lending Price Performance
Shares of LPRO stock opened at $3.14 on Monday. The firm has a fifty day moving average of $3.01 and a two-hundred day moving average of $2.11. The firm has a market cap of $369.50 million, a P/E ratio of -78.50 and a beta of 2.19. Open Lending Corporation has a 1-year low of $1.17 and a 1-year high of $3.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44.
Open Lending Company Profile
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.
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