Open Lending Co. (NASDAQ:LPRO) Receives $7.07 Average Target Price from Brokerages

Open Lending Co. (NASDAQ:LPRO) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.07.

LPRO has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Open Lending in a report on Wednesday, February 28th. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.00 to $7.00 in a report on Tuesday, February 6th. Canaccord Genuity Group lowered their target price on Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. Raymond James restated an “outperform” rating and set a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Finally, JMP Securities restated a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th.

Open Lending Trading Up 0.6 %

LPRO stock opened at $4.66 on Monday. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. Open Lending has a 12-month low of $4.57 and a 12-month high of $11.99. The stock has a market cap of $553.98 million, a price-to-earnings ratio of 27.41 and a beta of 0.99. The business’s 50-day moving average is $6.65 and its 200 day moving average is $6.88.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The firm had revenue of $14.90 million during the quarter, compared to analyst estimates of $27.55 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was down 44.4% on a year-over-year basis. On average, sell-side analysts anticipate that Open Lending will post 0.28 EPS for the current fiscal year.

Insider Activity at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $7.25, for a total value of $362,500.00. Following the transaction, the director now directly owns 2,079,666 shares in the company, valued at $15,077,578.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 150,000 shares of company stock worth $1,110,000. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LPRO. Quarry LP purchased a new stake in Open Lending in the second quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in Open Lending in the first quarter valued at approximately $41,000. Envestnet Asset Management Inc. purchased a new stake in Open Lending in the first quarter valued at approximately $78,000. QRG Capital Management Inc. purchased a new stake in Open Lending in the third quarter valued at approximately $84,000. Finally, Tower Research Capital LLC TRC raised its position in Open Lending by 58.8% in the third quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after purchasing an additional 3,923 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.