Aigen Investment Management LP Makes New Investment in Open Lending Corporation (NASDAQ:LPRO)

Aigen Investment Management LP bought a new position in shares of Open Lending Corporation (NASDAQ:LPRO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,896 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors have also recently made changes to their positions in LPRO. Teacher Retirement System of Texas purchased a new stake in shares of Open Lending during the first quarter worth $41,000. Harrell Investment Partners LLC purchased a new stake in shares of Open Lending during the first quarter worth $62,000. XTX Topco Ltd purchased a new stake in shares of Open Lending during the first quarter worth $76,000. Ameriprise Financial Inc. purchased a new stake in shares of Open Lending during the fourth quarter worth $80,000. Finally, SlateStone Wealth LLC increased its holdings in shares of Open Lending by 78.3% in the first quarter. SlateStone Wealth LLC now owns 28,841 shares of the company’s stock worth $80,000 after purchasing an additional 12,667 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Stock Down 0.5%

LPRO opened at $2.06 on Friday. The stock has a market cap of $246.75 million, a PE ratio of -1.75 and a beta of 1.92. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 1.63. Open Lending Corporation has a 52 week low of $0.70 and a 52 week high of $6.92. The business’s fifty day simple moving average is $2.25 and its 200 day simple moving average is $2.75.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $25.31 million during the quarter, compared to analyst estimates of $23.63 million. As a group, research analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an “equal weight” rating and a $2.50 price target on the stock. Needham & Company LLC upped their price target on shares of Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $2.80 price target (up previously from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Open Lending has a consensus rating of “Moderate Buy” and an average price target of $3.10.

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.