1,285,600 Shares in Open Lending Corporation $LPRO Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new position in Open Lending Corporation (NASDAQ:LPRO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,285,600 shares of the company’s stock, valued at approximately $3,998,000. OMERS ADMINISTRATION Corp owned 1.09% of Open Lending at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LPRO. D.A. Davidson & CO. bought a new position in shares of Open Lending in the 4th quarter worth approximately $28,000. Prudential Financial Inc. bought a new stake in shares of Open Lending during the second quarter valued at approximately $28,000. Pallas Capital Advisors LLC bought a new stake in shares of Open Lending during the second quarter valued at approximately $35,000. Dynamic Technology Lab Private Ltd purchased a new stake in Open Lending in the first quarter worth $43,000. Finally, R Squared Ltd grew its stake in Open Lending by 32.7% in 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.

Wall Street Analysts Forecast Growth

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

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $3.14 on Wednesday. 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 stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $2.18. Open Lending Corporation has a 12-month low of $1.17 and a 12-month high of $3.15. The stock has a market capitalization of $369.50 million, a price-to-earnings ratio of -78.50 and a beta of 2.19.

About Open Lending

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.