Ethos Financial Group LLC Buys Shares of 2,948,771 Open Lending Corporation $LPRO

Key Points

• Ethos Financial Group LLC has acquired a significant stake in Open Lending Corporation, purchasing 2,948,771 shares valued at approximately $8.14 million, representing about 2.46% ownership of the company.
• Other institutional investors have also shown interest, with multiple firms purchasing new stakes in Open Lending during the first quarter, contributing to 78.06% institutional ownership of the stock.
• The stock has recently been rated by analysts with a consensus rating of "Moderate Buy" and an average price target of $3.10, indicating positive sentiment among investors.

Ethos Financial Group LLC bought a new position in shares of Open Lending Corporation (NASDAQ:LPRO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,948,771 shares of the company's stock, valued at approximately $8,139,000. Ethos Financial Group LLC owned 2.46% of Open Lending as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Working Capital Advisors UK Ltd. raised its position in shares of Open Lending by 6.8% during the first quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company's stock worth $26,921,000 after purchasing an additional 619,060 shares during the period. Nuveen LLC acquired a new position in shares of Open Lending during the first quarter worth approximately $1,093,000. Aigen Investment Management LP acquired a new position in shares of Open Lending during the first quarter worth approximately $60,000. King Luther Capital Management Corp raised its position in shares of Open Lending by 100.0% during the first quarter. King Luther Capital Management Corp now owns 400,000 shares of the company's stock worth $1,104,000 after purchasing an additional 200,000 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of Open Lending by 67.2% during the first quarter. Chicago Partners Investment Group LLC now owns 83,874 shares of the company's stock worth $231,000 after purchasing an additional 33,708 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

Shares of NASDAQ LPRO traded up $0.1450 during midday trading on Friday, reaching $2.1850. The company's stock had a trading volume of 279,239 shares, compared to its average volume of 1,682,416. The firm has a 50 day moving average price of $2.24 and a 200-day moving average price of $2.64. 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 Corporation has a 12-month low of $0.70 and a 12-month high of $6.92. The stock has a market capitalization of $258.21 million, a P/E ratio of -1.85 and a beta of 1.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $25.31 million for the quarter, compared to the consensus estimate of $23.63 million. As a group, equities analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

LPRO has been the subject of several analyst reports. Stephens initiated coverage on Open Lending in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective for the company. Needham & Company LLC increased their price objective on Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.10.

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.