Palogic Value Management L.P. Buys 374,629 Shares of Open Lending Corporation $LPRO

Key Points

• Palogic Value Management L.P. increased its stake in Open Lending Corporation (NASDAQ:LPRO) by 52.2%, owning over 1 million shares after purchasing additional shares in the first quarter.
• Open Lending's stock has received mixed ratings from analysts, with a consensus average price target of $3.10, while the shares currently trade around $2.13.
• The company reported $0.01 EPS on revenue of $25.31 million for the last quarter, missing earnings estimates but exceeding revenue expectations.

Palogic Value Management L.P. lifted its position in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 52.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,092,677 shares of the company's stock after buying an additional 374,629 shares during the period. Open Lending makes up 1.3% of Palogic Value Management L.P.'s holdings, making the stock its 23rd largest position. Palogic Value Management L.P. owned about 0.91% of Open Lending worth $3,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ethos Financial Group LLC acquired a new stake in shares of Open Lending during the first quarter worth $8,139,000. Price T Rowe Associates Inc. MD raised its position in shares of Open Lending by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company's stock worth $38,368,000 after purchasing an additional 1,245,763 shares during the period. 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 stake in shares of Open Lending during the first quarter worth $1,093,000. Finally, Caption Management LLC acquired a new stake in shares of Open Lending during the first quarter worth $856,000. Institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

LPRO has been the topic of a number of recent analyst reports. Stephens initiated coverage on Open Lending in a research report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $2.80 price target (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.10.

Open Lending Stock Down 3.2%

NASDAQ:LPRO traded down $0.07 during trading hours on Friday, hitting $2.13. 396,093 shares of the company's stock traded hands, compared to its average volume of 513,301. The stock's fifty day moving average price is $2.27 and its two-hundred day moving average price is $2.22. 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 firm has a market cap of $251.71 million, a P/E ratio of -1.81 and a beta of 1.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.01 EPS 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, research analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

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.