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

Open Lending Corporation (NASDAQ:LPRO) has been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.56.

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $2.00 price objective on shares of Open Lending in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Finally, DA Davidson cut their price target on Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 16th.

Open Lending Stock Performance

Shares of Open Lending stock opened at $1.21 on Monday. The business has a 50-day simple moving average of $1.53 and a 200-day simple moving average of $1.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.52 and a current ratio of 4.52. Open Lending has a one year low of $0.70 and a one year high of $2.92. The company has a market cap of $142.39 million, a PE ratio of -40.33 and a beta of 2.05.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, March 12th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $21.92 million. On average, equities research analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Open Lending by 6.8% in the fourth quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock valued at $442,000 after purchasing an additional 18,118 shares in the last quarter. Veradace Capital Management LLC acquired a new stake in Open Lending during the fourth quarter worth approximately $2,372,000. SkyView Investment Advisors LLC lifted its position in shares of Open Lending by 25.5% during the 4th quarter. SkyView Investment Advisors LLC now owns 150,422 shares of the company’s stock worth $233,000 after buying an additional 30,523 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of Open Lending by 223.5% during the 4th quarter. Quadrature Capital Ltd now owns 65,376 shares of the company’s stock worth $101,000 after buying an additional 45,166 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of Open Lending by 6.3% in the 4th quarter. Man Group plc now owns 237,313 shares of the company’s stock valued at $368,000 after buying an additional 14,011 shares in the last quarter. Hedge funds and other 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.