1,285,600 Shares in Open Lending Corporation $LPRO Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in shares of Open Lending Corporation (NASDAQ:LPRO) in the second quarter, HoldingsChannel reports. The institutional investor bought 1,285,600 shares of the company’s stock, valued at approximately $3,998,000.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new position in shares of Open Lending during the 4th quarter valued at $28,000. Prudential Financial Inc. purchased a new position in Open Lending during the 2nd quarter valued at approximately $28,000. Pallas Capital Advisors LLC bought a new stake in Open Lending in the second quarter worth $35,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Open Lending during the 1st quarter valued at about $43,000. Finally, R Squared Ltd raised its position in Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after purchasing an additional 7,047 shares during the period. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LPRO has been the subject of several research analyst reports. DA Davidson reiterated a “neutral” rating and set a $3.15 target price (up from $3.00) on shares of Open Lending in a research report on Friday, June 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Northland Securities set a $3.15 target price on shares of Open Lending in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Open Lending to a “sell” rating in a research report on Saturday, August 1st. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Open Lending currently has a consensus rating of “Reduce” and an average target price of $2.77.

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $3.14 on Wednesday. The company has a market capitalization of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44. The company’s fifty day moving average price is $3.13 and its 200 day moving average price is $2.18. Open Lending Corporation has a 1 year low of $1.17 and a 1 year high of $3.15.

About Open Lending

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.