Open Lending Co. (NASDAQ:LPRO) Receives $6.83 Consensus Target Price from Analysts

Open Lending Co. (NASDAQ:LPRO) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.83.

A number of equities analysts recently commented on the company. JMP Securities lowered their target price on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. DA Davidson dropped their price objective on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th.

Institutional Investors Weigh In On Open Lending

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Open Lending by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock worth $230,000 after acquiring an additional 2,631 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Open Lending by 24.0% during the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after purchasing an additional 2,824 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Open Lending by 7.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock worth $263,000 after buying an additional 3,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Open Lending in the 2nd quarter valued at $33,000. Finally, Verition Fund Management LLC grew its position in shares of Open Lending by 27.4% in the 3rd quarter. Verition Fund Management LLC now owns 28,558 shares of the company’s stock valued at $175,000 after buying an additional 6,150 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Up 0.6 %

NASDAQ:LPRO opened at $6.40 on Tuesday. Open Lending has a 52 week low of $4.57 and a 52 week high of $8.70. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $6.01 and its two-hundred day moving average is $5.94. The stock has a market capitalization of $763.84 million, a price-to-earnings ratio of 213.33, a price-to-earnings-growth ratio of 2.79 and a beta of 1.13.

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.