Glazer Capital LLC Purchases New Holdings in Open Lending Corporation $LPRO

Glazer Capital LLC acquired a new position in shares of Open Lending Corporation (NASDAQ:LPRO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,790,724 shares of the company’s stock, valued at approximately $8,679,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PenderFund Capital Management Ltd. bought a new position in shares of Open Lending during the second quarter valued at approximately $375,000. Bank of America Corp DE bought a new stake in shares of Open Lending in the 2nd quarter worth approximately $312,000. Canada Pension Plan Investment Board bought a new stake in shares of Open Lending in the 2nd quarter worth approximately $214,000. Legal & General Group Plc bought a new stake in shares of Open Lending in the 2nd quarter worth approximately $33,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Open Lending in the 2nd quarter worth approximately $87,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LPRO. Wall Street Zen raised Open Lending to a “sell” rating in a research report on Saturday, August 1st. DA Davidson reissued a “neutral” rating and issued a $3.15 target price (up from $3.00) on shares of Open Lending in a report on Friday, June 26th. Northland Securities set a $3.15 target price on Open Lending in a research note on Wednesday, June 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $2.77.

Open Lending Price Performance

Shares of Open Lending stock opened at $3.14 on Friday. The company has a 50-day simple moving average of $3.13 and a two-hundred day simple moving average of $2.20. The stock has a market capitalization of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. Open Lending Corporation has a 52-week low of $1.17 and a 52-week high of $3.15. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44.

Open Lending Profile

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.