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

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $6.83.

Several equities research analysts have issued reports on LPRO shares. Morgan Stanley lowered their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. DA Davidson lowered their price objective on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, JMP Securities lowered their price objective on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th.

Open Lending Stock Up 0.1 %

Shares of LPRO stock opened at $6.75 on Friday. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. Open Lending has a 1 year low of $4.57 and a 1 year high of $8.70. The firm’s fifty day moving average price is $5.78 and its two-hundred day moving average price is $5.81. The firm has a market capitalization of $804.94 million, a P/E ratio of 170.79 and a beta of 1.13.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The business had revenue of $26.73 million during the quarter, compared to analyst estimates of $31.03 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was down 29.9% on a year-over-year basis. On average, equities analysts predict that Open Lending will post 0.18 EPS for the current fiscal year.

Institutional Trading of Open Lending

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Open Lending by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock valued at $230,000 after purchasing an additional 2,631 shares during the period. QRG Capital Management Inc. boosted its holdings in Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after purchasing an additional 2,824 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Open Lending by 7.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock valued at $263,000 after purchasing an additional 3,000 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Open Lending in the 2nd quarter valued at about $33,000. Finally, Arizona State Retirement System boosted its holdings in Open Lending by 32.2% in the 2nd quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock valued at $158,000 after purchasing an additional 6,896 shares during the period. 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.