Open Lending Corporation (NASDAQ:LPRO) Given Average Rating of “Hold” by Brokerages

Open Lending Corporation (NASDAQ:LPRO) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.9167.

Several brokerages have weighed in on LPRO. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of Open Lending in a research note on Tuesday, November 11th. Canaccord Genuity Group decreased their price target on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $1.61 on Friday. Open Lending has a one year low of $0.70 and a one year high of $6.73. The stock has a market capitalization of $190.29 million, a price-to-earnings ratio of -1.29 and a beta of 2.04. The company has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $2.04. The company has a debt-to-equity ratio of 1.74, a quick ratio of 5.59 and a current ratio of 5.59.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $22.15 million. On average, analysts predict that Open Lending will post 0.1 EPS for the current year.

Insider Activity

In other news, insider Matthew Sather purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $1.52 per share, with a total value of $60,800.00. Following the completion of the acquisition, the insider directly owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. This trade represents a 916.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Open Lending during the second quarter worth $28,000. Prudential Financial Inc. acquired a new position in shares of Open Lending during the 2nd quarter worth $28,000. Brighton Jones LLC acquired a new position in shares of Open Lending during the 2nd quarter worth $30,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Open Lending in the 2nd quarter worth about $32,000. Finally, Blair William & Co. IL acquired a new stake in Open Lending in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.