Open Lending Corporation (NASDAQ:LPRO) Receives Average Recommendation of “Hold” from Analysts

Open Lending Corporation (NASDAQ:LPRO) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.9167.

Several brokerages have recently weighed in on LPRO. Canaccord Genuity Group lowered their target price on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. Raymond James Financial restated an “outperform” rating and set a $2.80 price objective (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $4.00 target price on shares of Open Lending in a research note on Tuesday, November 11th. Finally, Citigroup reissued a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th.

Open Lending Stock Up 10.3%

Shares of NASDAQ:LPRO opened at $1.82 on Tuesday. The company has a market capitalization of $215.11 million, a price-to-earnings ratio of -1.46 and a beta of 1.97. The company has a 50 day moving average of $1.90 and a two-hundred day moving average of $2.06. Open Lending has a 52-week low of $0.70 and a 52-week high of $6.75. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Thursday, November 6th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $24.17 million for the quarter, compared to analyst estimates of $22.15 million. As a group, analysts forecast that Open Lending will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Matthew Sather bought 40,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $1.52 per share, with a total value of $60,800.00. Following the transaction, the insider owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. This trade represents a 916.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 15.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

A number of hedge funds have recently bought and sold shares of LPRO. R Squared Ltd raised its stake in Open Lending by 49.3% during the third quarter. R Squared Ltd now owns 21,543 shares of the company’s stock valued at $45,000 after buying an additional 7,111 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Open Lending by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock valued at $310,000 after acquiring an additional 9,590 shares during the last quarter. Savant Capital LLC raised its position in shares of Open Lending by 16.1% during the 3rd quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock valued at $159,000 after acquiring an additional 10,452 shares in the last quarter. Federated Hermes Inc. lifted its stake in Open Lending by 10.9% during the first quarter. Federated Hermes Inc. now owns 108,024 shares of the company’s stock worth $298,000 after purchasing an additional 10,645 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.