Royce & Associates LP Buys 290,602 Shares of Open Lending Co. (NASDAQ:LPRO)

Royce & Associates LP lifted its stake in shares of Open Lending Co. (NASDAQ:LPRO - Free Report) by 152.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 481,640 shares of the company's stock after purchasing an additional 290,602 shares during the period. Royce & Associates LP owned approximately 0.40% of Open Lending worth $2,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Open Lending during the 2nd quarter worth $33,000. Blue Trust Inc. boosted its holdings in Open Lending by 208.2% in the third quarter. Blue Trust Inc. now owns 10,500 shares of the company's stock valued at $59,000 after acquiring an additional 7,093 shares during the last quarter. SlateStone Wealth LLC bought a new position in Open Lending in the second quarter valued at about $70,000. QRG Capital Management Inc. increased its position in Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company's stock worth $81,000 after purchasing an additional 2,824 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Open Lending during the 2nd quarter worth about $110,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LPRO shares. Needham & Company LLC reiterated a "hold" rating on shares of Open Lending in a research report on Wednesday, October 2nd. Morgan Stanley dropped their target price on shares of Open Lending from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. JMP Securities cut their price target on Open Lending from $8.00 to $7.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. Finally, DA Davidson decreased their price objective on Open Lending from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.83.

Open Lending Trading Up 0.2 %

Open Lending stock traded up $0.01 during mid-day trading on Tuesday, hitting $6.19. 271,157 shares of the company's stock were exchanged, compared to its average volume of 427,815. The company's 50 day simple moving average is $5.91 and its 200-day simple moving average is $5.90. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $738.78 million, a P/E ratio of 206.33, a PEG ratio of 2.70 and a beta of 1.13. Open Lending Co. has a fifty-two week low of $4.57 and a fifty-two week high of $8.70.

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.