Josh Arnold Investment Consultant LLC Makes New Investment in Open Lending Corporation $LPRO

Key Points

• Josh Arnold Investment Consultant LLC has acquired a new position in Open Lending Corporation, purchasing 155,000 shares valued at approximately $428,000, making it the firm's 16th largest holding.
• Open Lending's shares currently have a market capitalization of $267.06 million and a 52-week trading range between $0.70 and $6.92.
• Analysts have a consensus rating of "Moderate Buy" for Open Lending, with a target price projected at $3.10 following recent upgrades from various financial firms.

Josh Arnold Investment Consultant LLC bought a new position in shares of Open Lending Corporation (NASDAQ:LPRO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 155,000 shares of the company's stock, valued at approximately $428,000. Open Lending makes up about 0.4% of Josh Arnold Investment Consultant LLC's holdings, making the stock its 16th biggest holding. Josh Arnold Investment Consultant LLC owned about 0.13% of Open Lending as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Open Lending by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company's stock worth $890,000 after buying an additional 5,264 shares during the period. Quantinno Capital Management LP boosted its stake in Open Lending by 69.2% during the fourth quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock worth $112,000 after buying an additional 7,664 shares during the period. ProShare Advisors LLC boosted its stake in Open Lending by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,777 shares of the company's stock worth $172,000 after buying an additional 9,468 shares during the period. Federated Hermes Inc. boosted its stake in Open Lending by 10.9% during the first quarter. Federated Hermes Inc. now owns 108,024 shares of the company's stock worth $298,000 after buying an additional 10,645 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company's stock worth $65,000 after buying an additional 10,812 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LPRO. Stephens began coverage on shares of Open Lending in a research report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price target on the stock. Raymond James Financial reissued an "outperform" rating and set a $2.80 price target (up previously from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.10.

Open Lending Trading Up 4.7%

LPRO traded up $0.10 on Tuesday, reaching $2.23. 410,616 shares of the company's stock were exchanged, compared to its average volume of 1,616,157. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.67 and a current ratio of 5.67. Open Lending Corporation has a twelve month low of $0.70 and a twelve month high of $6.92. The company's 50 day moving average is $2.27 and its 200-day moving average is $2.28. The company has a market cap of $263.52 million, a price-to-earnings ratio of -1.89 and a beta of 1.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $25.31 million for the quarter, compared to the consensus estimate of $23.63 million. Equities analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current year.

Open Lending Company 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.