Working Capital Advisors UK Ltd. Has $26.92 Million Stock Holdings in Open Lending Corporation (NASDAQ:LPRO)

Key Points

• Working Capital Advisors UK Ltd. increased its stake in Open Lending Corporation by 6.8%, now owning approximately 26.8% of its portfolio in the company with a total of 9,753,997 shares.
• Open Lending's stock has a market capitalization of $256.33 million and has fluctuated between a one-year low of $0.70 and a high of $6.92.
• Several analysts have rated Open Lending with a consensus rating of "Moderate Buy" and a target price of $3.10, indicating a more positive outlook for the stock.

Working Capital Advisors UK Ltd. increased its stake in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,753,997 shares of the company's stock after acquiring an additional 619,060 shares during the period. Open Lending comprises approximately 26.8% of Working Capital Advisors UK Ltd.'s portfolio, making the stock its 3rd largest position. Working Capital Advisors UK Ltd. owned about 8.14% of Open Lending worth $26,921,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPRO. Price T Rowe Associates Inc. MD boosted its position in Open Lending by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company's stock valued at $75,554,000 after buying an additional 920,630 shares during the period. Raymond James Financial Inc. purchased a new stake in Open Lending during the fourth quarter valued at about $4,326,000. Nuveen LLC purchased a new stake in Open Lending during the first quarter valued at about $1,093,000. King Luther Capital Management Corp boosted its position in Open Lending by 100.0% during the first quarter. King Luther Capital Management Corp now owns 400,000 shares of the company's stock valued at $1,104,000 after buying an additional 200,000 shares during the period. Finally, Wasatch Advisors LP boosted its position in Open Lending by 0.6% during the fourth quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company's stock valued at $99,915,000 after buying an additional 105,449 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Trading Down 4.2%

Shares of Open Lending stock traded down $0.09 during trading on Thursday, reaching $2.07. 552,366 shares of the stock were exchanged, compared to its average volume of 1,732,224. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 1.63. The stock's fifty day moving average is $2.24 and its 200 day moving average is $2.80. The firm has a market cap of $247.94 million, a price-to-earnings ratio of -1.75 and a beta of 1.92. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share 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 the consensus estimate of $23.63 million. As a group, equities research analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LPRO shares. Needham & Company LLC upped their price target on shares of Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, May 9th. DA Davidson restated a "buy" rating and set a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Raymond James Financial restated 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. Finally, Stephens started 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 for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $3.10.

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.