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

Shares of Open Lending Corporation (NASDAQ:LPRO) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $2.9167.

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

Open Lending Stock Performance

LPRO stock opened at $2.17 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. Open Lending has a 1 year low of $0.70 and a 1 year high of $6.73. The company has a market cap of $256.47 million, a P/E ratio of -1.74 and a beta of 2.00. The stock’s fifty day moving average price is $1.70 and its 200-day moving average price is $2.00.

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

Insider Buying and Selling

In related news, insider Matthew Sather acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $1.52 per share, with a total value of $60,800.00. Following the completion of the purchase, the insider directly owned 44,363 shares of the company’s stock, valued at $67,431.76. This represents a 916.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Open Lending

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

About Open Lending

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.