Wealth Enhancement Advisory Services LLC Invests $136,000 in Open Lending Corporation $LPRO

Wealth Enhancement Advisory Services LLC purchased a new position in Open Lending Corporation (NASDAQ:LPRO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 70,100 shares of the company’s stock, valued at approximately $136,000. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Open Lending as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pallas Capital Advisors LLC bought a new stake in shares of Open Lending in the 2nd quarter worth approximately $44,000. Jane Street Group LLC boosted its position in shares of Open Lending by 2,751.6% in the 1st quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock worth $1,188,000 after purchasing an additional 415,298 shares in the last quarter. Palogic Value Management L.P. boosted its position in shares of Open Lending by 52.2% in the 1st quarter. Palogic Value Management L.P. now owns 1,092,677 shares of the company’s stock worth $3,016,000 after purchasing an additional 374,629 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Open Lending in the 1st quarter worth approximately $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Open Lending in the 1st quarter worth approximately $43,000. 78.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LPRO. Raymond James Financial reissued an “outperform” rating and issued a $2.80 price target (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Open Lending has an average rating of “Hold” and an average target price of $3.10.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $1.89 on Friday. Open Lending Corporation has a twelve month low of $0.70 and a twelve month high of $6.92. The firm has a market cap of $223.34 million, a P/E ratio of -1.60 and a beta of 1.94. The company has a 50 day moving average of $2.15 and a 200 day moving average of $1.95. 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 (NASDAQ:LPRO) last announced its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. As a group, research analysts expect that Open Lending Corporation will post 0.1 EPS for the current fiscal year.

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.