Cubist Systematic Strategies LLC Invests $33,000 in Open Lending Co. (NASDAQ:LPRO)

Cubist Systematic Strategies LLC bought a new position in shares of Open Lending Co. (NASDAQ:LPRO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,992 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also modified their holdings of LPRO. SlateStone Wealth LLC purchased a new stake in shares of Open Lending during the second quarter worth about $70,000. QRG Capital Management Inc. boosted its position in Open Lending by 24.0% during the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after acquiring an additional 2,824 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Open Lending during the second quarter worth about $110,000. SkyView Investment Advisors LLC boosted its position in Open Lending by 100.0% during the second quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $112,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Open Lending by 32.2% during the second quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock worth $158,000 after acquiring an additional 6,896 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of LPRO stock opened at $5.97 on Thursday. The firm’s 50 day moving average price is $5.70 and its 200-day moving average price is $5.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32. Open Lending Co. has a one year low of $4.57 and a one year high of $8.70. The firm has a market cap of $711.42 million, a P/E ratio of 54.27 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The company had revenue of $26.73 million during the quarter, compared to analyst estimates of $31.03 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was down 29.9% compared to the same quarter last year. As a group, equities research analysts predict that Open Lending Co. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. DA Davidson lowered their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Finally, JMP Securities decreased their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and an average price target of $6.56.

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.