LPRO

Open Lending Corp

TMT, Finance/Real Estate


Presented:11/25/2020
Price:$28.12
Cap:$3.60B
Current Price:$5.93
Cap:$0.71B

Presented

Date11/25/2020
Price$28.12
Market Cap$3.60B
Ent Value$2.98B
P/E RatioN/A
Book Value$0.27
Div Yield0%
Shares O/S128.20M
Ave Daily Vol918,555
Short IntN/A

Current

Price$5.93
Market Cap$0.71B
Open Lending Corp. provides automated lending services to financial institutions. It specializes in loan analytics, risk-based pricing, risk modeling and automated decision technology for automotive lenders throughout the United States. The company was founded by Sandy Watkins in 2000 and is headquartered in Austin, TX.

Publicly traded companies mentioned herein: GoDaddy Inc (GDDY), Open Lending Corp (LPRO) 

Highlights 

The presenter is long LPRO, which underwent a reverse merger with Nebula Acquisition Corporation, a SPAC issued by True Wind Capital Management, earlier this year. True Wind’s founder and LPRO Board Member Adam Clammer previously led the Global Technology Group at KKR, and was behind the GoDaddy IPO. The company’s product provides quotes for loans within 5 seconds and hedges these loans with third party credit default insurance, earning a share of the underwriting profit. The presenter believes the business fills a void in the auto loan market and benefits all participants involved. He expects outsized growth in the next 5+ years, and currently has a $60 price target on the stock.

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Idea Discussion

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