Royce & Associates LP lifted its stake in shares of Open Lending Co. (NASDAQ:LPRO - Free Report) by 61.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 777,035 shares of the company's stock after purchasing an additional 295,395 shares during the period. Royce & Associates LP owned approximately 0.65% of Open Lending worth $4,639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in Open Lending during the fourth quarter valued at $25,000. Quantinno Capital Management LP acquired a new position in Open Lending during the third quarter valued at $68,000. Intech Investment Management LLC acquired a new position in Open Lending during the third quarter valued at $91,000. Proficio Capital Partners LLC acquired a new position in Open Lending during the fourth quarter valued at $95,000. Finally, Centiva Capital LP acquired a new position in Open Lending during the third quarter valued at $157,000. 78.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Needham & Company LLC raised Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group downgraded Open Lending from a "buy" rating to a "hold" rating and lowered their target price for the company from $8.00 to $3.70 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.39.
Get Our Latest Report on Open Lending
Open Lending Stock Up 5.8 %
NASDAQ LPRO traded up $0.18 on Friday, reaching $3.26. The stock had a trading volume of 1,760,552 shares, compared to its average volume of 429,260. The business has a 50 day moving average price of $5.15 and a 200 day moving average price of $5.65. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 1 year low of $2.95 and a 1 year high of $6.97. The company has a market capitalization of $389.08 million, a price-to-earnings ratio of 108.67 and a beta of 1.25.
About Open Lending
(
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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