Open Lending (NASDAQ:LPRO) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of Open Lending (NASDAQ:LPRO) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has $3.70 price target on the stock, down from their previous price target of $8.00.

Separately, Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Open Lending currently has an average rating of “Moderate Buy” and an average price target of $6.39.

Open Lending Trading Down 13.7 %

NASDAQ LPRO opened at $3.08 on Thursday. The firm’s 50-day moving average is $5.19 and its two-hundred day moving average is $5.67. Open Lending has a 12 month low of $3.02 and a 12 month high of $7.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The stock has a market capitalization of $367.60 million, a P/E ratio of 102.67 and a beta of 1.25.

Institutional Trading of Open Lending

Large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Open Lending during the fourth quarter worth approximately $25,000. Quantbot Technologies LP purchased a new stake in shares of Open Lending during the fourth quarter worth approximately $54,000. Quantinno Capital Management LP purchased a new stake in shares of Open Lending during the third quarter worth approximately $68,000. Ameriprise Financial Inc. purchased a new stake in shares of Open Lending during the fourth quarter worth approximately $80,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Open Lending during the fourth quarter worth approximately $87,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

About Open Lending

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.