Open Lending (NASDAQ:LPRO) Trading 16.4% Higher – What’s Next?

Open Lending Corporation (NASDAQ:LPRO) shares rose 16.4% during trading on Monday . The company traded as high as $2.08 and last traded at $2.06. Approximately 1,446,328 shares traded hands during mid-day trading, an increase of 162% from the average daily volume of 552,324 shares. The stock had previously closed at $1.77.

Analysts Set New Price Targets

LPRO has been the topic of a number of research reports. Citigroup restated a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Tuesday, November 11th. Finally, Canaccord Genuity Group dropped their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and an average target price of $2.92.

Open Lending Stock Performance

The stock has a 50 day moving average of $1.69 and a 200 day moving average of $2.00. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $243.47 million, a price-to-earnings ratio of -1.65 and a beta of 2.00.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share 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 the consensus estimate of $22.15 million. As a group, analysts predict that Open Lending Corporation will post 0.1 EPS for the current year.

Insider Buying and Selling

In other news, insider Matthew Sather bought 40,000 shares of Open Lending stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $1.52 per share, for a total transaction of $60,800.00. Following the purchase, the insider directly owned 44,363 shares in the company, valued at approximately $67,431.76. This represents a 916.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Open Lending

Several large investors have recently added to or reduced their stakes in LPRO. R Squared Ltd raised its stake in shares of Open Lending by 49.3% in the third quarter. R Squared Ltd now owns 21,543 shares of the company’s stock worth $45,000 after purchasing an additional 7,111 shares during the last quarter. Rhumbline Advisers grew its holdings in Open Lending by 6.4% during the second quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock worth $310,000 after buying an additional 9,590 shares in the last quarter. Savant Capital LLC grew its holdings in Open Lending by 16.1% during the third quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock worth $159,000 after buying an additional 10,452 shares in the last quarter. AQR Capital Management LLC raised its position in Open Lending by 84.0% in the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after buying an additional 10,812 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in Open Lending by 38.8% during the 2nd quarter. Gilbert & Cook Inc. now owns 46,396 shares of the company’s stock valued at $90,000 after acquiring an additional 12,975 shares in the last quarter. Institutional investors 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.