Texas Capital Bank Wealth Management Services Inc Takes Position in Open Lending Corporation $LPRO

Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Open Lending Corporation (NASDAQ:LPRO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 287,075 shares of the company’s stock, valued at approximately $893,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. D.A. Davidson & CO. acquired a new stake in shares of Open Lending in the 4th quarter valued at about $28,000. Prudential Financial Inc. acquired a new position in Open Lending during the 2nd quarter worth approximately $28,000. Pallas Capital Advisors LLC acquired a new position in Open Lending during the 2nd quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd bought a new position in Open Lending in the first quarter worth approximately $43,000. Finally, R Squared Ltd boosted its holdings 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 acquiring an additional 7,047 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

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

Open Lending Stock Performance

LPRO stock opened at $3.14 on Tuesday. The firm has a market cap of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $3.03 and a 200-day moving average of $2.12. Open Lending Corporation has a 12-month low of $1.17 and a 12-month high of $3.15.

Open Lending Profile

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.