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OFFON

OPEN LENDING CORPORATION

(LPRO)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 09/21 04:00:00 pm
40.105 USD   +4.28%
09/13INSIDER SELL : Open Lending
MT
09/09INSIDER SELL : Open Lending
MT
08/19Open Lending Corporation Announces Board Changes
CI
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Open Lending : American National will be the Company's Third Insurance Carrier Partner (Form 8-K)

06/24/2021 EDT
American National will be the Company's Third Insurance Carrier Partner

AUSTIN, TX - June 24, 2021 - Open Lending Corporation (NASDAQ: LPRO) ('Open Lending and Affiliates' or 'the Company'), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced that the Company has signed a Producer Agreement with American National Lloyds Insurance Company and ANPAC Louisiana Insurance Company, both affiliates of American National Group, Inc. (together, 'American National'), enabling both companies to be additional providers of credit default insurance policies for Open Lending's Lenders Protection Program.
'Adding a third insurance carrier has been an important initiative for us, so we are thrilled to be able to announce American National as our newest insurance carrier partner today. With American National's 'Excellent' financial rating (both companies rated A by A.M. Best), combined national coverage, and outstanding reputation, we feel that they will be a great fit for our Lenders Protection Program,' said John Flynn, Chairman and CEO of Open Lending. 'We believe that there is more than enough volume to support additional insurance carriers while continuing to deepen our valued relationships with our existing carriers. The execution of this key strategic initiative positions our Company for continued growth,' said Flynn.
'We have been impressed by the Open Lending team throughout this process, and we are excited to get started,' said Jim Pangburn, Executive Vice President - Specialty Markets Sales and Marketing, American National. 'We believe the Lenders Protection Program is a very unique offering in the marketplace, and we look forward to helping Open Lending further expand the program to more credit unions, banks and OEMs.'
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States. For 20 years we have been empowering financial institutions to create profitable auto loan portfolios by saying 'yes' to more automotive loans. For more information, please visit www.openlending.com.
About American National
American National Group, Inc. is the parent company of the American National companies, which include American National Insurance Company and its insurance affiliates (collectively, 'American National'). American National offers a broad portfolio of products and services, which include life insurance, annuities, property and casualty insurance for personal lines, agribusiness and certain commercial exposures, health insurance, credit insurance and pension products. The American National companies operate in all 50 states.
For corporate and investor relations information, please visit the website of American National at www.AmericanNational.com.
Contact:
ICR for Open Lending
Investors
openlending@icrinc.com

Disclaimer

Open Lending Corporation published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 12:10:09 UTC.


ę Publicnow 2021
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Analyst Recommendations on OPEN LENDING CORPORATION
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Financials (USD)
Sales 2021 219 M - -
Net income 2021 142 M - -
Net cash 2021 102 M - -
P/E ratio 2021 33,2x
Yield 2021 -
Capitalization 4 894 M 4 894 M -
EV / Sales 2021 21,9x
EV / Sales 2022 16,5x
Nbr of Employees 104
Free-Float 79,5%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 38,78 $
Average target price 48,70 $
Spread / Average Target 25,6%
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Managers and Directors
John J. Flynn Chairman & Chief Executive Officer
Ross M. Jessup President, COO, Secretary & Director
Charles D. Jehl Chief Financial Officer, Treasurer & Executive VP
Sarah Lackey Chief Technology Officer
Adam H. Clammer Independent Director
Sector and Competitors