Ballentine Partners LLC Makes New Investment in Open Lending Corporation $LPRO

Ballentine Partners LLC bought a new position in shares of Open Lending Corporation (NASDAQ:LPRO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,455 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPRO. Ethos Financial Group LLC acquired a new position in Open Lending during the first quarter worth about $8,139,000. Price T Rowe Associates Inc. MD raised its position in Open Lending by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after acquiring an additional 1,245,763 shares during the last quarter. Working Capital Advisors UK Ltd. raised its position in Open Lending by 6.8% during the first quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock worth $26,921,000 after acquiring an additional 619,060 shares during the last quarter. Jane Street Group LLC raised its position in Open Lending by 2,751.6% during the first quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock worth $1,188,000 after acquiring an additional 415,298 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Open Lending during the first quarter worth about $1,093,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Price Performance

LPRO opened at $2.11 on Wednesday. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 1.63. Open Lending Corporation has a 52-week low of $0.70 and a 52-week high of $6.92. The company has a 50 day moving average of $2.22 and a two-hundred day moving average of $2.02. The company has a market cap of $249.34 million, a P/E ratio of -1.79 and a beta of 1.83.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $25.31 million for the quarter, compared to the consensus estimate of $23.63 million. On average, analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPRO. 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 target price for the company. Raymond James Financial reiterated an “outperform” rating and set a $2.80 price target (up from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.