Palogic Value Management L.P. Has $3.02 Million Stock Holdings in Open Lending Corporation $LPRO

Key Points

• Palogic Value Management L.P. increased its stake in Open Lending Corporation by 52.2%, acquiring an additional 374,629 shares for a total of 1,092,677 shares.
• Open Lending's debt-to-equity ratio is 1.63, and its market cap stands at approximately $249.34 million.
• Analysts have given Open Lending a consensus target price of $3.10, with ratings that include three "Buy" and three "Hold" recommendations.

Palogic Value Management L.P. boosted its position in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 52.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,092,677 shares of the company's stock after purchasing an additional 374,629 shares during the period. Open Lending makes up about 1.3% of Palogic Value Management L.P.'s portfolio, making the stock its 24th largest holding. Palogic Value Management L.P. owned 0.91% of Open Lending worth $3,016,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LPRO. Walleye Capital LLC acquired a new position in shares of Open Lending in the first quarter worth $261,000. Jump Financial LLC acquired a new position in Open Lending during the first quarter worth $130,000. Price T Rowe Associates Inc. MD increased its position in 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 buying an additional 1,245,763 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Open Lending by 595.6% during the first quarter. Quantbot Technologies LP now owns 63,002 shares of the company's stock valued at $174,000 after acquiring an additional 53,945 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Open Lending during the first quarter valued at about $32,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Trading Up 1.5%

Shares of NASDAQ LPRO traded up $0.04 during midday trading on Thursday, reaching $2.31. 158,267 shares of the stock were exchanged, compared to its average volume of 1,634,566. The company has a market capitalization of $272.38 million, a price-to-earnings ratio of -1.95 and a beta of 1.83. Open Lending Corporation has a 12 month low of $0.70 and a 12 month high of $6.92. The business has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $2.39. 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 (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. As a group, equities research analysts expect that Open Lending Corporation will post 0.1 EPS for the current year.

Analyst Ratings Changes

LPRO has been the subject of several research reports. Needham & Company LLC increased their target price on shares of Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research note on Friday, May 9th. Stephens initiated coverage on shares of Open Lending in a report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price objective for the company. Finally, Raymond James Financial reissued an "outperform" rating and issued a $2.80 price target (up previously 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.