Quantinno Capital Management LP Purchases Shares of 11,072 Open Lending Co. (NASDAQ:LPRO)

Quantinno Capital Management LP acquired a new position in Open Lending Co. (NASDAQ:LPRO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,072 shares of the company’s stock, valued at approximately $68,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Open Lending by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock valued at $2,156,000 after purchasing an additional 41,792 shares in the last quarter. SlateStone Wealth LLC purchased a new position in shares of Open Lending during the 2nd quarter valued at about $70,000. Arizona State Retirement System lifted its position in shares of Open Lending by 32.2% during the 2nd quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock valued at $158,000 after buying an additional 6,896 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Open Lending by 9.2% during the 2nd quarter. Federated Hermes Inc. now owns 95,418 shares of the company’s stock valued at $532,000 after acquiring an additional 8,010 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Open Lending by 48.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 108,951 shares of the company’s stock worth $608,000 after acquiring an additional 35,435 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Stock Performance

NASDAQ LPRO opened at $6.56 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending Co. has a 1-year low of $4.57 and a 1-year high of $8.70. The business has a 50 day simple moving average of $6.03 and a two-hundred day simple moving average of $5.91. The stock has a market capitalization of $782.94 million, a PE ratio of 218.67, a P/E/G ratio of 2.64 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and a consensus target price of $6.83.

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.