Caption Management LLC Buys Shares of 310,000 Open Lending Corporation $LPRO

Key Points

• Caption Management LLC has acquired a new position in Open Lending Corporation, purchasing 310,000 shares valued at approximately $856,000.
• Several hedge funds have increased their stakes in Open Lending, with notable purchases including a new stake of $8.14 million from Ethos Financial Group and a 52.2% increase by Palogic Value Management.
• Open Lending reported a missed earnings estimate of $0.01 per share for the last quarter, despite revenues exceeding expectations at $25.31 million.

Caption Management LLC purchased a new stake in Open Lending Corporation (NASDAQ:LPRO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 310,000 shares of the company's stock, valued at approximately $856,000. Caption Management LLC owned 0.26% of Open Lending at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LPRO. Summit Securities Group LLC purchased a new stake in shares of Open Lending during the 1st quarter worth about $32,000. Teacher Retirement System of Texas purchased a new stake in shares of Open Lending during the 1st quarter worth about $41,000. Aigen Investment Management LP purchased a new stake in shares of Open Lending during the 1st quarter worth about $60,000. Harrell Investment Partners LLC purchased a new stake in shares of Open Lending during the 1st quarter worth about $62,000. Finally, XTX Topco Ltd purchased a new stake in shares of Open Lending during the 1st quarter worth about $76,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Friday, May 9th. Stephens assumed coverage on Open Lending in a report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price for the company. Finally, 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 report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Open Lending has a consensus rating of "Moderate Buy" and a consensus price target of $3.10.

Open Lending Stock Up 2.7%

NASDAQ LPRO traded up $0.06 on Wednesday, reaching $2.27. The company had a trading volume of 654,851 shares, compared to its average volume of 679,979. The firm has a market capitalization of $268.25 million, a PE ratio of -1.92 and a beta of 1.83. Open Lending Corporation has a 1 year low of $0.70 and a 1 year high of $6.92. The firm has a 50-day moving average of $2.25 and a 200-day moving average of $2.39. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $25.31 million during the quarter, compared to analysts' expectations of $23.63 million. On average, equities research analysts anticipate that Open Lending Corporation will post 0.1 EPS for the current fiscal year.

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.