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

Open Lending Corporation (NASDAQ:LPRO) has been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.9167.

A number of analysts have weighed in on LPRO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research note on Wednesday, October 8th. DA Davidson reissued a “buy” rating and set a $4.00 target price on shares of Open Lending in a research report on Tuesday, November 11th. Canaccord Genuity Group decreased 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. Finally, Citigroup reiterated a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th.

Open Lending Stock Down 4.7%

Shares of Open Lending stock opened at $1.61 on Friday. 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 has a 52-week low of $0.70 and a 52-week high of $6.73. The company has a market capitalization of $190.29 million, a P/E ratio of -1.29 and a beta of 2.04. The company has a 50 day moving average of $1.76 and a 200 day moving average of $2.04.

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

Insider Activity at Open Lending

In related news, insider Matthew Sather bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $1.52 per share, with a total value of $60,800.00. Following the transaction, the insider directly owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. This represents a 916.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Open Lending

Several large investors have recently bought and sold shares of LPRO. Price T Rowe Associates Inc. MD grew its holdings in shares of Open Lending by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after purchasing an additional 1,245,763 shares during the last quarter. Wasatch Advisors LP grew its stake in Open Lending by 3.6% during the 3rd quarter. Wasatch Advisors LP now owns 6,406,790 shares of the company’s stock worth $13,518,000 after buying an additional 224,183 shares during the last quarter. Palogic Value Management L.P. grew its stake in Open Lending by 440.0% during the 2nd quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock worth $11,446,000 after buying an additional 4,807,323 shares during the last quarter. LB Partners LLC acquired a new position in Open Lending during the second quarter worth approximately $9,799,000. Finally, Portolan Capital Management LLC purchased a new stake in Open Lending in the third quarter valued at approximately $7,752,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.