Whetstone Capital Advisors LLC Buys 1,525,926 Shares of Open Lending Corporation $LPRO

Whetstone Capital Advisors LLC lifted its stake in shares of Open Lending Corporation (NASDAQ:LPRO) by 34.0% during the fourth quarter, Holdings Channel reports. The firm owned 6,014,667 shares of the company’s stock after purchasing an additional 1,525,926 shares during the quarter. Open Lending makes up approximately 2.9% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 9th largest holding. Whetstone Capital Advisors LLC owned approximately 0.05% of Open Lending worth $9,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LPRO. Prudential Financial Inc. acquired a new stake in shares of Open Lending during the second quarter worth $28,000. D.A. Davidson & CO. acquired a new stake in shares of Open Lending during the fourth quarter worth $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Open Lending during the first quarter worth $43,000. Cerity Partners LLC acquired a new stake in shares of Open Lending during the second quarter worth $44,000. Finally, R Squared Ltd raised its position in shares of Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Price Performance

NASDAQ:LPRO opened at $2.18 on Monday. The firm has a market capitalization of $256.54 million, a price-to-earnings ratio of -54.50 and a beta of 2.28. Open Lending Corporation has a 1-year low of $1.17 and a 1-year high of $2.70. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $1.84 and its 200 day moving average price is $1.70.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The firm had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. On average, sell-side analysts forecast that Open Lending Corporation will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPRO. DA Davidson cut their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $2.00 target price on shares of Open Lending in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Finally, Wall Street Zen lowered Open Lending from a “hold” rating to a “sell” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Open Lending has an average rating of “Hold” and a consensus target price of $2.60.

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.