King Luther Capital Management Corp Raises Stock Position in Open Lending Co. (NASDAQ:LPRO)

King Luther Capital Management Corp increased its stake in shares of Open Lending Co. (NASDAQ:LPRO) by 100.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 200,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. King Luther Capital Management Corp’s holdings in Open Lending were worth $1,224,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LPRO. Cubist Systematic Strategies LLC acquired a new stake in Open Lending in the second quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of Open Lending by 208.2% during the third quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after purchasing an additional 7,093 shares in the last quarter. SlateStone Wealth LLC purchased a new position in shares of Open Lending in the 2nd quarter valued at about $70,000. QRG Capital Management Inc. increased its stake in Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after purchasing an additional 2,824 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Open Lending during the 2nd quarter worth approximately $110,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Open Lending Trading Up 1.7 %

Shares of LPRO stock opened at $6.47 on Friday. Open Lending Co. has a 1-year low of $4.57 and a 1-year high of $8.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The business’s fifty day moving average price is $5.96 and its 200 day moving average price is $5.92. The firm has a market capitalization of $772.19 million, a PE ratio of 215.67, a P/E/G ratio of 2.73 and a beta of 1.13.

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.