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

Royce & Associates LP lifted its stake in Open Lending Co. (NASDAQ:LPRO) by 61.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 777,035 shares of the company’s stock after purchasing an additional 295,395 shares during the quarter. Royce & Associates LP owned about 0.65% of Open Lending worth $4,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Open Lending in the 4th quarter valued at approximately $25,000. Quantinno Capital Management LP purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $68,000. Intech Investment Management LLC purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $91,000. Proficio Capital Partners LLC purchased a new position in shares of Open Lending in the 4th quarter valued at approximately $95,000. Finally, Centiva Capital LP purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $157,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.83.

Open Lending Stock Performance

LPRO opened at $3.57 on Thursday. Open Lending Co. has a 12-month low of $3.15 and a 12-month high of $7.49. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $426.08 million, a PE ratio of 119.00 and a beta of 1.25. The firm has a 50 day moving average of $5.24 and a two-hundred day moving average of $5.69.

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.