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

Open Lending Co. (NASDAQ:LPRO) has been assigned an average rating of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.79.

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

Insider Buying and Selling

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the transaction, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LPRO. Cetera Trust Company N.A bought a new stake in shares of Open Lending in the 4th quarter worth about $2,617,000. Algert Global LLC lifted its stake in Open Lending by 271.3% in the third quarter. Algert Global LLC now owns 339,719 shares of the company’s stock worth $2,487,000 after purchasing an additional 248,223 shares during the last quarter. Raymond James & Associates boosted its position in shares of Open Lending by 5.9% during the fourth quarter. Raymond James & Associates now owns 839,990 shares of the company’s stock valued at $7,148,000 after buying an additional 46,432 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Open Lending during the third quarter valued at approximately $1,454,000. Finally, Vanguard Group Inc. raised its holdings in shares of Open Lending by 1.9% in the third quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock worth $69,010,000 after buying an additional 174,115 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Up 3.2 %

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

Open Lending (NASDAQ:LPRO) last released 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). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The business had revenue of $30.75 million during the quarter, compared to analysts’ expectations of $28.65 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was down 19.9% on a year-over-year basis. On average, equities research analysts anticipate 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.