R Squared Ltd Invests $28,000 in Open Lending Corporation $LPRO

R Squared Ltd purchased a new position in shares of Open Lending Corporation (NASDAQ:LPRO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,432 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Open Lending in the first quarter valued at $32,000. Teacher Retirement System of Texas acquired a new stake in shares of Open Lending in the first quarter valued at $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Open Lending in the first quarter valued at $43,000. Caxton Associates LLP acquired a new stake in shares of Open Lending in the first quarter valued at $54,000. Finally, Blair William & Co. IL acquired a new stake in shares of Open Lending in the second quarter valued at $39,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Stock Performance

NASDAQ LPRO opened at $1.91 on Monday. 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 50-day moving average price is $2.10 and its 200 day moving average price is $1.98. The firm has a market cap of $225.70 million, a P/E ratio of -1.62 and a beta of 1.94.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $25.31 million during the quarter, compared to the consensus estimate of $23.63 million. On average, equities research analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

LPRO has been the topic of a number of analyst reports. Raymond James Financial restated an “outperform” rating and issued a $2.80 price target (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Open Lending currently has an average rating of “Hold” and an average target price of $3.10.

Open Lending Company 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.