13,050 Shares in Open Lending Co. (NASDAQ:LPRO) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC acquired a new position in shares of Open Lending Co. (NASDAQ:LPRO – Get Rating) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 13,050 shares of the company’s stock, valued at approximately $105,000.

A number of other hedge funds have also recently made changes to their positions in LPRO. Lazard Asset Management LLC boosted its position in shares of Open Lending by 113.3% during the 2nd quarter. Lazard Asset Management LLC now owns 2,701 shares of the company’s stock worth $27,000 after purchasing an additional 1,435 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Open Lending during the 1st quarter worth approximately $41,000. Great West Life Assurance Co. Can purchased a new position in shares of Open Lending during the 3rd quarter worth approximately $47,000. D.A. Davidson & CO. purchased a new position in shares of Open Lending during the 3rd quarter worth approximately $81,000. Finally, Quantbot Technologies LP purchased a new position in Open Lending in the 3rd quarter valued at approximately $84,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Open Lending Price Performance

Shares of LPRO opened at $6.66 on Friday. Open Lending Co. has a twelve month low of $5.35 and a twelve month high of $20.72. The firm’s fifty day simple moving average is $8.04 and its 200-day simple moving average is $7.76. The firm has a market capitalization of $823.78 million, a price-to-earnings ratio of 12.81 and a beta of 0.78. The company has a current ratio of 18.58, a quick ratio of 18.58 and a debt-to-equity ratio of 0.68.

Open Lending (NASDAQ:LPRO – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Open Lending had a net margin of 37.10% and a return on equity of 31.84%. The firm had revenue of $26.82 million during the quarter, compared to analyst estimates of $34.51 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Open Lending’s revenue for the quarter was down 48.1% compared to the same quarter last year. Equities analysts forecast that Open Lending Co. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LPRO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Open Lending from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, February 24th. Canaccord Genuity Group decreased their price target on shares of Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 21st. DA Davidson decreased their price target on shares of Open Lending from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Needham & Company LLC decreased their price target on shares of Open Lending from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, February 24th. Finally, Raymond James cut shares of Open Lending from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $10.00 to $9.00 in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.89.

About Open Lending

(Get Rating)

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.