Open Lending Co. (NASDAQ:LPRO) Receives Consensus Rating of “Hold” from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.56.

Several equities research analysts have recently weighed in on LPRO shares. Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. DA Davidson decreased their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 12th. JMP Securities lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Finally, Morgan Stanley reduced 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.

Open Lending Trading Up 3.6 %

LPRO stock opened at $6.36 on Friday. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70. The stock has a market capitalization of $758.43 million, a price-to-earnings ratio of 159.04 and a beta of 1.13. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $5.79.

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

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently modified their holdings of LPRO. Price T Rowe Associates Inc. MD lifted its holdings in Open Lending by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after buying an additional 51,276 shares during the period. Sei Investments Co. lifted its stake in shares of Open Lending by 9.4% during the 2nd quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock worth $2,973,000 after purchasing an additional 45,959 shares during the last quarter. EVR Research LP bought a new stake in Open Lending during the second quarter valued at about $2,758,000. Algert Global LLC grew its stake in Open Lending by 3.7% in the second quarter. Algert Global LLC now owns 398,913 shares of the company’s stock valued at $2,226,000 after purchasing an additional 14,191 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Open Lending by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock worth $2,156,000 after purchasing an additional 41,792 shares in the last quarter. 78.06% of the stock is currently owned by 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.