Shares of Open Lending Corporation (LPRO), a lending enablement and risk analytics solutions provider for financial institutions, are up more than 12% Friday morning at $7.57, after the company announced a share buyback to the tune of $75 million.
The share repurchase is valid through November 17, 2023.
“The Board’s decision to approve this share repurchase program reflects the confidence in our business model, free cash flow profile, strength of our balance sheet, and the attractive levels to acquire our common stock,” said Keith Jezek, CEO of Open Lending.
LPRO has traded in the range of $6.11- $28.53 in the last 1 year.
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