Open Lending Co. (NASDAQ:LPRO) Receives Average Rating of “Hold” from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.07.

Several brokerages have issued reports on LPRO. Canaccord Genuity Group dropped their target price on Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research note on Tuesday. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a research note on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Open Lending in a research note on Wednesday, February 28th.

Insider Buying and Selling at Open Lending

In other news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction that occurred 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 transaction, the director now owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 200,000 shares of company stock worth $1,501,500 in the last quarter. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Open Lending during the 2nd quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new position in Open Lending during the 1st quarter valued at $41,000. Envestnet Asset Management Inc. purchased a new position in Open Lending during the 1st quarter valued at $78,000. QRG Capital Management Inc. purchased a new position in Open Lending during the 3rd quarter valued at $84,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Open Lending by 58.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after acquiring an additional 3,923 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 1.3 %

Shares of NASDAQ:LPRO opened at $6.19 on Thursday. The stock has a market capitalization of $735.87 million, a price-to-earnings ratio of 36.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The stock’s 50-day simple moving average is $7.34 and its two-hundred day simple moving average is $7.12. Open Lending has a 52-week low of $4.89 and a 52-week high of $11.99.

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

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.