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

Shares of Open Lending Corporation (NASDAQ:LPRO) have received an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.9167.

A number of brokerages recently issued reports on LPRO. Citigroup reissued a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 target price on shares of Open Lending in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group dropped their price target on Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th.

Open Lending Stock Up 0.6%

Shares of LPRO stock opened at $1.69 on Friday. The stock has a 50 day moving average of $1.79 and a 200-day moving average of $1.95. Open Lending has a 12 month low of $0.70 and a 12 month high of $6.57. 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 firm has a market cap of $199.74 million, a PE ratio of -1.35 and a beta of 2.03.

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 company had revenue of $24.17 million during the quarter, compared to analyst estimates of $22.15 million. On average, equities analysts predict that Open Lending will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Matthew Sather acquired 40,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $1.52 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LPRO. R Squared Ltd bought a new position in shares of Open Lending in the 2nd quarter valued at $28,000. D.A. Davidson & CO. acquired a new stake in Open Lending in the fourth quarter valued at about $28,000. Prudential Financial Inc. bought a new position in Open Lending in the second quarter valued at about $28,000. Brighton Jones LLC acquired a new position in Open Lending during the second quarter worth about $30,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Open Lending in the second quarter worth about $32,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

About Open Lending

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.