Wasatch Advisors LP Sells 2,182,243 Shares of Open Lending Corporation $LPRO

Wasatch Advisors LP reduced its stake in Open Lending Corporation (NASDAQ:LPRO) by 30.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,871,864 shares of the company’s stock after selling 2,182,243 shares during the period. Wasatch Advisors LP owned approximately 4.14% of Open Lending worth $15,151,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LPRO. Prospect Capital Advisors LLC bought a new position in shares of Open Lending during the 1st quarter valued at about $104,000. R Squared Ltd increased its holdings in shares of Open Lending by 25.6% in the first quarter. R Squared Ltd now owns 35,905 shares of the company’s stock worth $45,000 after purchasing an additional 7,315 shares during the last quarter. LB Partners LLC increased its holdings in shares of Open Lending by 2.9% in the first quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock worth $6,751,000 after purchasing an additional 150,000 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Open Lending by 6.8% in the fourth quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock worth $442,000 after purchasing an additional 18,118 shares during the last quarter. Finally, Veradace Capital Management LLC purchased a new stake in shares of Open Lending in the fourth quarter worth about $2,372,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LPRO. DA Davidson reissued a “neutral” rating and set a $3.15 price target (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Wall Street Zen raised Open Lending to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Finally, Northland Securities set a $3.15 target price on Open Lending in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.77.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $3.14 on Thursday. The firm has a fifty day simple moving average of $2.97 and a two-hundred day simple moving average of $2.10. Open Lending Corporation has a 52 week low of $1.17 and a 52 week high of $3.15. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $369.50 million, a P/E ratio of -78.50 and a beta of 2.19.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.