Ethos Financial Group LLC Makes New Investment in 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 purchased a new position in shares of Open Lending Corporation (NASDAQ:LPRO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 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.

Several other institutional investors have also modified their holdings of LPRO. Ameriprise Financial Inc. purchased a new position in Open Lending during the fourth quarter worth about $80,000. BNP Paribas Financial Markets purchased a new stake in shares of Open Lending during the 4th quarter valued at approximately $87,000. Teacher Retirement System of Texas purchased a new stake in shares of Open Lending during the 1st quarter valued at approximately $41,000. Quantinno Capital Management LP raised its position in shares of Open Lending by 69.2% during the 4th quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock valued at $112,000 after buying an additional 7,664 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Open Lending during the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Open Lending Trading Down 1.0%

Shares of LPRO stock traded down $0.02 on Thursday, hitting $2.04. The stock had a trading volume of 446,374 shares, compared to its average volume of 1,691,434. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. The firm has a market capitalization of $241.07 million, a P/E ratio of -1.73 and a beta of 1.92. The company's 50 day moving average price is $2.24 and its 200-day moving average price is $2.67. Open Lending Corporation has a 1 year low of $0.70 and a 1 year high of $6.92.

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 analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $25.31 million for the quarter, compared to the consensus estimate of $23.63 million. Analysts anticipate that Open Lending Corporation will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LPRO shares. Needham & Company LLC lifted their target price on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, May 9th. Raymond James Financial restated an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Finally, Stephens initiated coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.10.

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.