Open Lending (NASDAQ:LPRO) Hits New 1-Year Low at $4.86

Open Lending Co. (NASDAQ:LPRO) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.86 and last traded at $4.86, with a volume of 21468 shares traded. The stock had previously closed at $4.91.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LPRO shares. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Raymond James reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Open Lending in a report on Wednesday, February 28th. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $4.00 to $7.00 in a report on Tuesday, February 6th. Finally, Canaccord Genuity Group decreased their price target on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.07.

Open Lending Trading Down 0.8 %

The company has a market cap of $565.87 million, a price-to-earnings ratio of 28.00 and a beta of 0.99. The firm has a 50 day moving average price of $6.76 and a two-hundred day moving average price of $6.91. The company has a quick ratio of 14.08, a current ratio of 14.08 and a debt-to-equity ratio of 0.68.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $14.90 million for the quarter, compared to analyst estimates of $27.55 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was down 44.4% on a year-over-year basis. As a group, equities analysts forecast that Open Lending Co. will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Joseph Flynn sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the sale, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 150,000 shares of company stock valued at $1,110,000 over the last 90 days. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its holdings in Open Lending by 10.2% in the second quarter. Prudential Financial Inc. now owns 13,986 shares of the company’s stock worth $143,000 after acquiring an additional 1,300 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Open Lending by 51.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock worth $89,000 after acquiring an additional 1,591 shares in the last quarter. Swiss National Bank boosted its holdings in Open Lending by 1.1% in the third quarter. Swiss National Bank now owns 172,450 shares of the company’s stock worth $1,262,000 after acquiring an additional 1,800 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Open Lending by 14.6% in the second quarter. Envestnet Asset Management Inc. now owns 14,993 shares of the company’s stock worth $153,000 after acquiring an additional 1,913 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Open Lending by 15.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after acquiring an additional 2,090 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Company 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.