Open Lending’s (LPRO) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Open Lending (NASDAQ:LPRO) in a research note published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $2.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. DA Davidson cut their price target on shares of Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Three 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.75.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $1.49 on Tuesday. The stock has a market cap of $176.10 million, a price-to-earnings ratio of -49.67 and a beta of 2.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.52 and a quick ratio of 4.52. Open Lending has a 12 month low of $0.70 and a 12 month high of $3.85. The stock’s 50 day moving average price is $1.64 and its 200 day moving average price is $1.79.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $19.35 million for the quarter, compared to the consensus estimate of $21.92 million. Equities research analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Hedge funds have recently modified their holdings of the stock. R Squared Ltd raised its position in shares of Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares during the period. Rhumbline Advisers boosted its position in shares of Open Lending by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock valued at $310,000 after purchasing an additional 9,590 shares during the period. Savant Capital LLC increased its stake in Open Lending by 16.1% in the 3rd quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock worth $159,000 after purchasing an additional 10,452 shares in the last quarter. AQR Capital Management LLC raised its holdings in Open Lending by 84.0% during the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after buying an additional 10,812 shares during the period. Finally, Barclays PLC lifted its stake in Open Lending by 9.0% during the fourth quarter. Barclays PLC now owns 157,383 shares of the company’s stock valued at $244,000 after buying an additional 12,963 shares in the last quarter. 78.06% of the stock is currently 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.