Royce & Associates LP Increases Position in Open Lending Co. (NASDAQ:LPRO)

Royce & Associates LP lifted its position in Open Lending Co. (NASDAQ:LPRO) by 152.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 481,640 shares of the company’s stock after buying an additional 290,602 shares during the period. Royce & Associates LP’s holdings in Open Lending were worth $2,948,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LPRO. EVR Research LP purchased a new stake in shares of Open Lending during the second quarter worth about $2,758,000. King Luther Capital Management Corp acquired a new position in Open Lending in the second quarter valued at approximately $558,000. Sei Investments Co. boosted its stake in shares of Open Lending by 14.5% during the 1st quarter. Sei Investments Co. now owns 486,893 shares of the company’s stock worth $3,048,000 after acquiring an additional 61,647 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Open Lending by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock valued at $67,337,000 after buying an additional 51,276 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Open Lending by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock valued at $2,156,000 after purchasing an additional 41,792 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Performance

NASDAQ LPRO opened at $6.18 on Tuesday. The stock has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $5.89. The company has a current ratio of 9.42, a quick ratio of 13.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $736.98 million, a PE ratio of 206.00, a P/E/G ratio of 2.70 and a beta of 1.13. Open Lending Co. has a twelve month low of $4.57 and a twelve month high of $8.70.

Analyst Ratings Changes

LPRO has been the topic of a number of recent research reports. JMP Securities lowered their price target on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. DA Davidson cut their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their price objective on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Open Lending presently has an average rating of “Hold” and a consensus price target of $6.83.

About Open Lending

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.