Reasons for the Outperformance of Open Lending Corporation (LPRO)

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bernzott Capital Advisors highlighted stocks like Open Lending Corporation (NASDAQ:LPRO) in the second quarter 2023 investor letter. Headquartered in Austin, Texas, Open Lending Corporation (NASDAQ:LPRO) provides lending enablement and risk analytics solutions. On July 20, 2023, Open Lending Corporation (NASDAQ:LPRO) stock closed at $11.32 per share. One-month return of Open Lending Corporation (NASDAQ:LPRO) was 11.86%, and its shares gained 2.44% of their value over the last 52 weeks. Open Lending Corporation (NASDAQ:LPRO) has a market capitalization of $1.366 billion.

Bernzott Capital Advisors made the following comment about Open Lending Corporation (NASDAQ:LPRO) in its second quarter 2023 investor letter:

“Open Lending Corporation (NASDAQ:LPRO): Better-than-expected volumes drove earnings outperformance and jump-started the stock. Its credit union customer base appears well positioned for continued growth in near-prime auto lending, a positive indicator.”

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Open Lending Corporation (NASDAQ:LPRO)is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Open Lending Corporation (NASDAQ:LPRO) at the end of first quarter which was 21 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.