Open Lending Co. (NASDAQ:LPRO) Given Consensus Rating of “Hold” by Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.79.

LPRO has been the topic of several recent research reports. Needham & Company LLC dropped their target price on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley upgraded shares of Open Lending from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $4.00 to $7.00 in a research report on Tuesday, February 6th. Canaccord Genuity Group lowered their price target on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Finally, Raymond James reiterated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $5.75 on Friday. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. Open Lending has a 12 month low of $4.57 and a 12 month high of $11.99. The company has a market capitalization of $683.54 million, a price-to-earnings ratio of 52.27 and a beta of 1.03. The firm’s 50-day moving average is $5.91 and its 200 day moving average is $6.73.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $30.75 million for the quarter, compared to the consensus estimate of $28.65 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. Research analysts predict that Open Lending will post 0.28 EPS for the current year.

Insider Transactions at Open Lending

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the sale, the director now directly owns 1,993,762 shares of the company’s stock, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Open Lending

Several large investors have recently made changes to their positions in LPRO. QRG Capital Management Inc. acquired a new position in Open Lending during the 3rd quarter worth approximately $84,000. Gilbert & Cook Inc. purchased a new position in shares of Open Lending during the third quarter worth approximately $92,000. Victory Capital Management Inc. raised its stake in Open Lending by 27.3% during the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock valued at $118,000 after acquiring an additional 2,971 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Open Lending during the fourth quarter worth $121,000. Finally, Russell Investments Group Ltd. raised its position in Open Lending by 15.9% during the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after buying an additional 2,090 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.