Working Capital Advisors UK Ltd. Has $26.92 Million 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. raised its holdings in Open Lending Corporation (NASDAQ:LPRO - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,753,997 shares of the company's stock after acquiring an additional 619,060 shares during the quarter. Open Lending accounts for about 26.8% of Working Capital Advisors UK Ltd.'s holdings, making the stock its 3rd biggest 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LPRO. Price T Rowe Associates Inc. MD increased its position in Open Lending by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company's stock worth $75,554,000 after purchasing an additional 920,630 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Open Lending in the 4th quarter valued at about $4,326,000. Nuveen LLC purchased a new stake in Open Lending in the 1st quarter valued at about $1,093,000. King Luther Capital Management Corp grew its holdings in Open Lending by 100.0% in the 1st 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 grew its holdings in Open Lending by 0.6% in the 4th 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. Institutional investors and hedge funds own 78.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on LPRO. Needham & Company LLC lifted their price target on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, May 9th. Stephens assumed coverage on Open Lending in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective on the stock. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3.10.

Open Lending Stock Down 0.5%

Open Lending stock traded down $0.01 during midday trading on Friday, hitting $2.06. 426,811 shares of the company were exchanged, compared to its average volume of 808,786. The company's fifty day moving average price is $2.25 and its 200-day moving average price is $2.75. The company has a market cap of $246.75 million, a PE ratio of -1.75 and a beta of 1.92. 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 Corporation has a fifty-two week low of $0.70 and a fifty-two week high of $6.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its 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 business had revenue of $25.31 million during the quarter, compared to the consensus estimate of $23.63 million. On average, research analysts predict that Open Lending Corporation will post 0.1 EPS 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.