Geode Capital Management LLC Acquires 68,721 Shares of Open Lending Co. (NASDAQ:LPRO)

Geode Capital Management LLC grew its holdings in shares of Open Lending Co. (NASDAQ:LPRO) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,365,266 shares of the company’s stock after buying an additional 68,721 shares during the quarter. Geode Capital Management LLC’s holdings in Open Lending were worth $14,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EVR Research LP acquired a new position in shares of Open Lending during the 2nd quarter worth about $2,758,000. King Luther Capital Management Corp acquired a new position in shares of Open Lending during the 2nd quarter worth about $558,000. Royce & Associates LP increased its stake in shares of Open Lending by 152.1% during the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock worth $2,948,000 after purchasing an additional 290,602 shares during the last quarter. State Street Corp increased its stake in shares of Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after purchasing an additional 63,450 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Open Lending during the 3rd quarter worth about $1,153,000. 78.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Open Lending Stock Down 1.7 %

Shares of LPRO opened at $5.78 on Tuesday. Open Lending Co. has a 52 week low of $4.57 and a 52 week high of $8.70. The firm has a market cap of $689.84 million, a P/E ratio of 192.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The firm’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $5.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42.

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.