Kornitzer Capital Management Inc. KS lowered its stake in shares of Open Lending Co. (NASDAQ:LPRO - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 679,244 shares of the company's stock after selling 238,796 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.57% of Open Lending worth $4,055,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Open Lending in the 4th quarter valued at approximately $25,000. Blue Trust Inc. raised its position in shares of Open Lending by 208.2% during the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company's stock worth $59,000 after purchasing an additional 7,093 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of Open Lending during the 3rd quarter worth approximately $68,000. Intech Investment Management LLC acquired a new position in shares of Open Lending during the 3rd quarter worth approximately $91,000. Finally, QRG Capital Management Inc. raised its position in shares of Open Lending by 24.4% during the 3rd quarter. QRG Capital Management Inc. now owns 18,148 shares of the company's stock worth $111,000 after purchasing an additional 3,561 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.
Open Lending Stock Down 4.9 %
Shares of Open Lending stock traded down $0.27 during trading on Friday, reaching $5.18. The company had a trading volume of 724,663 shares, compared to its average volume of 392,949. The company has a market cap of $617.64 million, a price-to-earnings ratio of 172.50 and a beta of 1.16. The firm's fifty day moving average is $5.73 and its 200-day moving average is $5.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. Open Lending Co. has a fifty-two week low of $4.57 and a fifty-two week high of $8.14.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC upgraded Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Open Lending currently has an average rating of "Moderate Buy" and an average price target of $6.83.
View Our Latest Stock Report on LPRO
Open Lending Company Profile
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Free Report)
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.
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