Hudson Valley Investment Advisors Inc. ADV Takes Position in Open Lending Corporation $LPRO

Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Open Lending Corporation (NASDAQ:LPRO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,445 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its stake in Open Lending by 10.9% during the first quarter. Federated Hermes Inc. now owns 108,024 shares of the company’s stock worth $298,000 after purchasing an additional 10,645 shares during the last quarter. AQR Capital Management LLC lifted its stake in Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the last quarter. Summit Securities Group LLC acquired a new position in Open Lending during the first quarter worth approximately $32,000. SlateStone Wealth LLC increased its position in Open Lending by 78.3% during the first quarter. SlateStone Wealth LLC now owns 28,841 shares of the company’s stock worth $80,000 after buying an additional 12,667 shares during the period. Finally, Bank of America Corp DE increased its position in Open Lending by 10.5% during the fourth quarter. Bank of America Corp DE now owns 141,153 shares of the company’s stock worth $843,000 after buying an additional 13,394 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LPRO. Raymond James Financial reaffirmed an “outperform” rating and set a $2.80 price target (up previously from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a research report on Saturday, September 27th. Finally, Stephens began coverage on Open Lending in a research report on Thursday, June 12th. They set an “equal weight” rating and a $2.50 price target on the stock. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.10.

Open Lending Trading Up 1.9%

NASDAQ:LPRO opened at $2.10 on Friday. The firm has a market cap of $248.16 million, a P/E ratio of -1.78 and a beta of 1.94. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 1.63. The stock’s 50 day simple moving average is $2.18 and its 200-day simple moving average is $2.00. Open Lending Corporation has a 12-month low of $0.70 and a 12-month high of $6.92.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $25.31 million during the quarter, compared to analyst estimates of $23.63 million. Equities analysts anticipate that Open Lending Corporation will post 0.1 EPS for the current year.

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.