King Luther Capital Management Corp Buys 100,000 Shares of Open Lending Co. (NASDAQ:LPRO)

King Luther Capital Management Corp increased its position in shares of Open Lending Co. (NASDAQ:LPRO - Free Report) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the company's stock after acquiring an additional 100,000 shares during the period. King Luther Capital Management Corp owned approximately 0.17% of Open Lending worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EVR Research LP purchased a new stake in Open Lending in the second quarter valued at approximately $2,758,000. Royce & Associates LP increased its holdings in shares of Open Lending by 152.1% in the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company's stock worth $2,948,000 after buying an additional 290,602 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Open Lending during the 3rd quarter valued at $1,153,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Open Lending by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company's stock worth $67,337,000 after acquiring an additional 51,276 shares during the last quarter. Finally, Sei Investments Co. grew its position in Open Lending by 9.4% in the second quarter. Sei Investments Co. now owns 532,852 shares of the company's stock worth $2,973,000 after acquiring an additional 45,959 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LPRO has been the subject of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd. DA Davidson dropped their target price on Open Lending from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, August 12th. JMP Securities dropped their price objective on Open Lending from $8.00 to $7.00 and set a "market outperform" rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley dropped their price objective on Open Lending from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.83.

Open Lending Stock Up 1.7 %

Shares of NASDAQ:LPRO traded up $0.11 during trading on Friday, hitting $6.47. The stock had a trading volume of 347,079 shares, compared to its average volume of 418,750. Open Lending Co. has a 12 month low of $4.57 and a 12 month high of $8.70. The company has a market capitalization of $772.19 million, a PE ratio of 215.67, a PEG ratio of 2.73 and a beta of 1.13. The firm's fifty day moving average is $5.96 and its 200 day moving average is $5.92. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Open Lending 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.