Open Lending Co. (NASDAQ:LPRO) Position Reduced by Jane Street Group LLC

Jane Street Group LLC cut its position in shares of Open Lending Co. (NASDAQ:LPRO) by 47.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,791 shares of the company’s stock after selling 54,505 shares during the quarter. Jane Street Group LLC’s holdings in Open Lending were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after acquiring an additional 63,450 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Open Lending in the third quarter valued at approximately $68,000. Centiva Capital LP bought a new position in shares of Open Lending in the third quarter valued at approximately $157,000. Josh Arnold Investment Consultant LLC raised its position in shares of Open Lending by 7.1% in the third quarter. Josh Arnold Investment Consultant LLC now owns 150,000 shares of the company’s stock valued at $918,000 after purchasing an additional 10,000 shares during the period. Finally, Wasatch Advisors LP raised its position in shares of Open Lending by 1.4% in the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after purchasing an additional 222,969 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Down 1.6 %

Shares of NASDAQ LPRO opened at $5.46 on Thursday. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending Co. has a 12-month low of $4.57 and a 12-month high of $8.43. The company has a market cap of $651.65 million, a price-to-earnings ratio of 182.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The firm’s 50-day simple moving average is $6.09 and its 200 day simple moving average is $5.85.

Wall Street Analyst Weigh In

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

Open Lending 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.