Hudson Valley Investment Advisors Inc. ADV Makes New Investment in Open Lending Corporation $LPRO

Hudson Valley Investment Advisors Inc. ADV bought a new position in Open Lending Corporation (NASDAQ:LPRO) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 58,445 shares of the company’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ethos Financial Group LLC acquired a new stake in shares of Open Lending during the 1st quarter worth about $8,139,000. Price T Rowe Associates Inc. MD increased its position in shares of Open Lending by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after purchasing an additional 1,245,763 shares during the last quarter. Working Capital Advisors UK Ltd. increased its position in shares of Open Lending by 6.8% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock worth $26,921,000 after purchasing an additional 619,060 shares during the last quarter. Jane Street Group LLC increased its position in shares of Open Lending by 2,751.6% during 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 during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Open Lending during the 1st quarter worth about $1,093,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

Shares of LPRO opened at $2.10 on Friday. The stock has a 50-day simple moving average of $2.18 and a 200-day simple moving average of $2.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.67 and a current ratio of 5.67. The stock has a market capitalization of $248.16 million, a PE ratio of -1.78 and a beta of 1.94. Open Lending Corporation has a 1 year low of $0.70 and a 1 year high of $6.92.

Open Lending (NASDAQ:LPRO) last announced 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 firm had revenue of $25.31 million during the quarter, compared to analyst estimates of $23.63 million. On average, analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LPRO has been the subject of a number of recent analyst reports. Stephens initiated coverage on Open Lending in a research report on Thursday, June 12th. They set an “equal weight” rating and a $2.50 price objective for the company. Raymond James Financial reissued an “outperform” rating and set a $2.80 price objective (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.10.

Open Lending 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.