LB Partners LLC Makes New Investment in Open Lending Corporation $LPRO

LB Partners LLC acquired a new position in shares of Open Lending Corporation (NASDAQ:LPRO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,050,841 shares of the company’s stock, valued at approximately $9,799,000. Open Lending comprises approximately 6.3% of LB Partners LLC’s investment portfolio, making the stock its 7th biggest holding. LB Partners LLC owned approximately 4.22% of Open Lending as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LPRO. Ethos Financial Group LLC acquired a new stake in shares of Open Lending during the first quarter worth about $8,139,000. Exchange Traded Concepts LLC boosted its stake in shares of Open Lending by 58.3% during the first quarter. Exchange Traded Concepts LLC now owns 77,055 shares of the company’s stock worth $213,000 after buying an additional 28,369 shares during the period. Working Capital Advisors UK Ltd. boosted its stake in shares of Open Lending by 6.8% during the first quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock worth $26,921,000 after buying an additional 619,060 shares during the period. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Open Lending during the first quarter worth about $428,000. Finally, Palogic Value Management L.P. boosted its stake in shares of Open Lending by 52.2% during the first quarter. Palogic Value Management L.P. now owns 1,092,677 shares of the company’s stock worth $3,016,000 after buying an additional 374,629 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $1.95 on Monday. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 1.63. The company has a market cap of $230.43 million, a P/E ratio of -1.65 and a beta of 1.94. Open Lending Corporation has a 52 week low of $0.70 and a 52 week high of $6.92. The company has a 50-day moving average price of $2.13 and a 200 day moving average price of $1.94.

Open Lending (NASDAQ:LPRO) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $23.63 million. Research analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

LPRO has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $2.80 target price (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.10.

Open Lending Company Profile

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.