Open Lending Co. (NASDAQ:LPRO) Holdings Reduced by Palogic Value Management L.P.

Palogic Value Management L.P. reduced its position in shares of Open Lending Co. (NASDAQ:LPRO) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 718,048 shares of the company’s stock after selling 6,952 shares during the period. Open Lending comprises about 1.6% of Palogic Value Management L.P.’s investment portfolio, making the stock its 12th biggest holding. Palogic Value Management L.P.’s holdings in Open Lending were worth $4,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LPRO. Raymond James Financial Inc. purchased a new position in Open Lending during the 4th quarter valued at about $4,326,000. Royce & Associates LP grew its position in Open Lending by 61.3% in the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after purchasing an additional 295,395 shares during the last quarter. Wasatch Advisors LP lifted its position in Open Lending by 1.4% in the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after purchasing an additional 222,969 shares during the period. Vanguard Group Inc. raised its holdings in shares of Open Lending by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after buying an additional 160,617 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Open Lending during the third quarter worth approximately $845,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

Shares of LPRO stock opened at $2.80 on Friday. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 52 week low of $2.72 and a 52 week high of $6.97. The firm has a 50 day moving average of $4.94 and a 200-day moving average of $5.57. The company has a market cap of $334.18 million, a price-to-earnings ratio of 93.33 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LPRO shares. Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, January 29th. Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.12.

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.