Open Lending Corporation $LPRO Shares Purchased by Palogic Value Management L.P.

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. raised its stake in shares of Open Lending Corporation (NASDAQ:LPRO - Free Report) by 52.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 portfolio, making the stock its 23rd biggest position. Palogic Value Management L.P. owned about 0.91% of Open Lending worth $3,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Open Lending by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company's stock valued at $38,368,000 after purchasing an additional 1,245,763 shares in the last quarter. Working Capital Advisors UK Ltd. boosted its position in shares of Open Lending by 6.8% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company's stock valued at $26,921,000 after purchasing an additional 619,060 shares in the last quarter. Ethos Financial Group LLC bought a new position in shares of Open Lending during the 1st quarter valued at about $8,139,000. Northern Trust Corp boosted its position in shares of Open Lending by 10.9% during the 4th quarter. Northern Trust Corp now owns 970,663 shares of the company's stock valued at $5,795,000 after purchasing an additional 95,723 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Open Lending by 13.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 855,481 shares of the company's stock valued at $2,361,000 after purchasing an additional 103,084 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on LPRO shares. Stephens started coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 target price for the company. Raymond James Financial reiterated an "outperform" rating and issued a $2.80 target price (up from $2.50) on shares of Open Lending in a 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $3.10.

Open Lending Price Performance

NASDAQ LPRO opened at $2.13 on Tuesday. The company has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.28. 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 $251.70 million, a price-to-earnings ratio of -1.81 and a beta of 1.83. Open Lending Corporation has a 52-week low of $0.70 and a 52-week high of $6.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted 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 firm had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. Equities research analysts predict 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.

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