Verition Fund Management LLC Purchases 6,150 Shares of Open Lending Co. (NASDAQ:LPRO)

Verition Fund Management LLC boosted its position in Open Lending Co. (NASDAQ:LPRO) by 27.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,558 shares of the company’s stock after purchasing an additional 6,150 shares during the quarter. Verition Fund Management LLC’s holdings in Open Lending were worth $175,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of Open Lending during the second quarter valued at approximately $33,000. Blue Trust Inc. boosted its holdings in Open Lending by 208.2% in the third quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after acquiring an additional 7,093 shares in the last quarter. SlateStone Wealth LLC purchased a new stake in shares of Open Lending in the second quarter worth $70,000. Intech Investment Management LLC bought a new position in shares of Open Lending during the third quarter valued at $91,000. Finally, QRG Capital Management Inc. raised its position in shares of Open Lending by 24.4% in the 3rd quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after purchasing an additional 3,561 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.83.

Open Lending Price Performance

Shares of LPRO opened at $5.81 on Tuesday. The firm has a market cap of $693.42 million, a PE ratio of 193.67, a P/E/G ratio of 2.64 and a beta of 1.16. Open Lending Co. has a 1-year low of $4.57 and a 1-year high of $8.70. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $6.01 and a two-hundred day simple moving average of $5.91.

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.