Quantinno Capital Management LP Acquires New Stake in Open Lending Co. (NASDAQ:LPRO)

Quantinno Capital Management LP acquired a new stake in Open Lending Co. (NASDAQ:LPRO) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 11,072 shares of the company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in shares of Open Lending in the second quarter worth about $33,000. Blue Trust Inc. boosted its position in Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after buying an additional 7,093 shares during the period. SlateStone Wealth LLC bought a new position in Open Lending in the 2nd quarter worth about $70,000. Intech Investment Management LLC purchased a new position in shares of Open Lending during the third quarter worth approximately $91,000. Finally, QRG Capital Management Inc. raised its stake in shares of Open Lending by 24.4% during the third quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock valued at $111,000 after acquiring an additional 3,561 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Open Lending Price Performance

NASDAQ LPRO opened at $6.56 on Wednesday. The company has a market cap of $782.94 million, a PE ratio of 218.67, a P/E/G ratio of 2.64 and a beta of 1.16. The firm’s 50 day moving average price is $6.03 and its 200-day moving average price is $5.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. Open Lending Co. has a 52-week low of $4.57 and a 52-week high of $8.70.

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.