Open Lending (NASDAQ:LPRO) Now Covered by Stephens

Stephens began coverage on shares of Open Lending (NASDAQ:LPRO) in a research report report published on Thursday, MarketBeat.com reports. The firm issued an equal weight rating and a $2.50 price target on the stock.

LPRO has been the subject of several other research reports. Needham & Company LLC boosted their price objective on Open Lending from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Friday, May 9th. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and lowered their price objective for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. DA Davidson reiterated a “buy” rating and issued a $4.00 price objective on shares of Open Lending in a research report on Wednesday, April 16th. Finally, Citizens Jmp initiated coverage on Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.12.

Open Lending Stock Performance

NASDAQ:LPRO opened at $2.16 on Thursday. The business has a 50 day moving average of $1.53 and a 200 day moving average of $3.86. The company has a market capitalization of $258.73 million, a price-to-earnings ratio of 72.00 and a beta of 1.94. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $24.39 million during the quarter, compared to the consensus estimate of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. On average, sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Open Lending

In other Open Lending news, CEO Jessica E. Buss bought 12,975 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the acquisition, the chief executive officer now directly owns 46,446 shares in the company, valued at $89,640.78. The trade was a 38.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in LPRO. Rhumbline Advisers raised its holdings in shares of Open Lending by 3.7% during the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock valued at $872,000 after acquiring an additional 5,149 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Open Lending by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 311,737 shares of the company’s stock valued at $1,861,000 after acquiring an additional 8,052 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Open Lending in the fourth quarter worth $95,000. Raymond James Financial Inc. purchased a new stake in Open Lending in the fourth quarter worth $4,326,000. Finally, Royce & Associates LP grew its stake in Open Lending by 61.3% in the fourth quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after purchasing an additional 295,395 shares during the period. Institutional investors own 78.06% of the company’s stock.

About Open Lending

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.