Open Lending Co. (NASDAQ:LPRO) Given Average Recommendation of “Hold” by Brokerages

Open Lending Co. (NASDAQ:LPRO) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.07.

Several brokerages have issued reports on LPRO. Canaccord Genuity Group lowered their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Raymond James reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $4.00 to $7.00 in a report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Open Lending in a report on Wednesday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th.

Open Lending Trading Down 2.3 %

Shares of Open Lending stock opened at $5.09 on Monday. Open Lending has a 1 year low of $4.89 and a 1 year high of $11.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The company has a market capitalization of $605.10 million, a P/E ratio of 29.94 and a beta of 0.99. The company’s fifty day moving average is $6.90 and its two-hundred day moving average is $6.96.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $27.55 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The company’s revenue for the quarter was down 44.4% on a year-over-year basis. Analysts forecast that Open Lending will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00. Following the sale, the director now owns 2,079,666 shares of the company’s stock, valued at $15,077,578.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $1,110,000. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Open Lending

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in Open Lending during the second quarter worth about $29,000. Point72 Hong Kong Ltd acquired a new position in Open Lending during the first quarter worth about $41,000. Envestnet Asset Management Inc. acquired a new position in Open Lending during the first quarter worth about $78,000. QRG Capital Management Inc. acquired a new position in Open Lending during the third quarter worth about $84,000. Finally, Tower Research Capital LLC TRC raised its position in Open Lending by 58.8% during the third quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock worth $85,000 after acquiring an additional 3,923 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.