Open Lending Co. (NASDAQ:LPRO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Open Lending Co. (NASDAQ:LPRO) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.83.

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, January 29th.

Institutional Investors Weigh In On Open Lending

Several hedge funds have recently bought and sold shares of LPRO. Price T Rowe Associates Inc. MD increased its stake in shares of Open Lending by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock valued at $75,554,000 after purchasing an additional 920,630 shares in the last quarter. Raymond James Financial Inc. bought a new position in Open Lending during the 4th quarter valued at approximately $4,326,000. Royce & Associates LP raised its stake in Open Lending by 61.3% during the fourth quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock valued at $4,639,000 after buying an additional 295,395 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Open Lending by 1.4% in the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after acquiring an additional 222,969 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Open Lending in the third quarter worth $1,153,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Down 2.2 %

Shares of Open Lending stock opened at $4.93 on Friday. The company’s fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $5.80. Open Lending has a 12-month low of $4.57 and a 12-month high of $7.69. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a market cap of $588.40 million, a P/E ratio of 164.33 and a beta of 1.16.

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.