Open Lending Corporation (NASDAQ:LPRO) Receives Consensus Rating of “Hold” from Analysts

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

A number of research firms have commented on LPRO. Canaccord Genuity Group cut their price target on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a report on Thursday, January 22nd. 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. Finally, Citigroup restated a “market perform” rating on shares of Open Lending in a report on Wednesday, November 12th.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $1.42 on Thursday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 5.59 and a current ratio of 5.59. The firm’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.84. Open Lending has a fifty-two week low of $0.70 and a fifty-two week high of $4.85. The stock has a market cap of $167.83 million, a price-to-earnings ratio of -1.14 and a beta of 2.05.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Open Lending by 84.0% in the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after acquiring an additional 10,812 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Open Lending during the 1st quarter valued at approximately $43,000. Caxton Associates LLP acquired a new position in Open Lending during the first quarter worth $54,000. Jane Street Group LLC grew its position in shares of Open Lending by 2,751.6% in the first quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock valued at $1,188,000 after purchasing an additional 415,298 shares during the period. Finally, Ethos Financial Group LLC lifted its holdings in Open Lending by 21.0% in the 2nd quarter. Ethos Financial Group LLC now owns 3,567,723 shares of the company’s stock valued at $6,921,000 after purchasing an additional 618,952 shares in the last quarter. Institutional investors 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.