Open Lending (NASDAQ:LPRO) Price Target Lowered to $3.00 at DA Davidson

Open Lending (NASDAQ:LPRO) had its price objective reduced by DA Davidson from $4.00 to $3.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.75.

Open Lending Stock Up 7.6%

LPRO opened at $1.56 on Monday. Open Lending has a 1 year low of $0.70 and a 1 year high of $4.33. The firm has a 50 day moving average price of $1.64 and a 200 day moving average price of $1.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.52 and a current ratio of 4.52. The company has a market cap of $184.38 million, a PE ratio of -52.00 and a beta of 2.05.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Open Lending had a negative net margin of 4.54% and a positive return on equity of 8.83%. The business had revenue of $19.35 million for the quarter, compared to analyst estimates of $21.92 million. Sell-side analysts expect that Open Lending will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Open Lending

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Open Lending by 84.0% in the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after acquiring an additional 10,812 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Open Lending during the first quarter valued at approximately $43,000. Caxton Associates LLP purchased a new stake in shares of Open Lending during the first quarter valued at approximately $54,000. Jane Street Group LLC lifted its position in shares of Open Lending by 2,751.6% during the first quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock worth $1,188,000 after purchasing an additional 415,298 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Open Lending during the second quarter worth $126,000. 78.06% of the stock is owned by institutional investors and hedge funds.

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.