Open Lending Corporation (NASDAQ:LPRO) Given Consensus Recommendation of “Hold” by Brokerages

by · The Cerbat Gem

Shares of Open Lending Corporation (NASDAQ:LPRO – Get Free Report) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.12.

Several equities analysts have recently weighed in on LPRO shares. Needham & Company LLC raised their price target on shares of Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Friday, May 9th. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Citizens Jmp started coverage on shares of Open Lending in a research note on Friday, April 4th. They issued a “market perform” rating on the stock. Stephens assumed coverage on shares of Open Lending in a research note on Thursday, June 12th. They issued an “equal weight” rating and a $2.50 price target on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $4.00 target price on shares of Open Lending in a research note on Wednesday, April 16th.

Check Out Our Latest Stock Analysis on LPRO

Open Lending Stock Performance

LPRO opened at $2.23 on Friday. The company has a quick ratio of 6.21, a current ratio of 6.21 and a debt-to-equity ratio of 1.63. The company has a market cap of $267.11 million, a price-to-earnings ratio of -1.91 and a beta of 1.93. Open Lending has a 52-week low of $0.70 and a 52-week high of $6.92. The firm’s fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $3.47.

Open Lending (NASDAQ:LPRO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $24.39 million for the quarter, compared to analysts’ expectations of $24.78 million. Equities analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jessica E. Buss purchased 12,975 shares of the company’s stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the transaction, the chief executive officer directly owned 46,446 shares in the company, valued at approximately $89,640.78. The trade was a 38.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Open Lending

A number of institutional investors have recently made changes to their positions in LPRO. Ethos Financial Group LLC acquired a new position in shares of Open Lending in the first quarter valued at approximately $8,139,000. Price T Rowe Associates Inc. MD lifted its position in shares of Open Lending by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after buying an additional 1,245,763 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Open Lending in the 4th quarter valued at $4,326,000. Working Capital Advisors UK Ltd. raised its position in Open Lending by 6.8% in the 1st quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock valued at $26,921,000 after purchasing an additional 619,060 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Open Lending by 2,751.6% in the 1st quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock valued at $1,188,000 after purchasing an additional 415,298 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

About Open Lending

(Get Free Report

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.

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