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

Shares of Open Lending Co. (NASDAQ:LPROGet Free Report) have been given an average rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.79.

A number of research analysts recently weighed in on LPRO shares. Needham & Company LLC dropped their price target on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Canaccord Genuity Group lowered their price target on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Raymond James reissued an “outperform” rating and issued a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Finally, BTIG Research started coverage on shares of Open Lending in a research report on Friday. They issued a “neutral” rating on the stock.

Check Out Our Latest Stock Analysis on Open Lending

Insider Activity at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the transaction, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank grew its stake in Open Lending by 1.1% in the 3rd quarter. Swiss National Bank now owns 172,450 shares of the company’s stock worth $1,262,000 after buying an additional 1,800 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after buying an additional 2,090 shares in the last quarter. Olympiad Research LP grew its stake in Open Lending by 10.7% in the 4th quarter. Olympiad Research LP now owns 29,219 shares of the company’s stock worth $249,000 after buying an additional 2,832 shares in the last quarter. Victory Capital Management Inc. grew its stake in Open Lending by 27.3% in the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after buying an additional 2,971 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in Open Lending by 3.4% in the 4th quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock worth $913,000 after buying an additional 3,556 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 1.1 %

NASDAQ:LPRO opened at $6.66 on Tuesday. The stock has a market capitalization of $793.67 million, a price-to-earnings ratio of 60.55 and a beta of 1.12. The firm has a fifty day simple moving average of $5.72 and a two-hundred day simple moving average of $6.78. Open Lending has a 12 month low of $4.57 and a 12 month high of $11.73. The company has a current ratio of 13.14, a quick ratio of 13.14 and a debt-to-equity ratio of 0.65.

Open Lending (NASDAQ:LPROGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $30.75 million for the quarter, compared to analyst estimates of $28.65 million. Open Lending had a net margin of 13.31% and a return on equity of 6.87%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Analysts expect that Open Lending will post 0.22 EPS for the current fiscal year.

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.

Further Reading

Analyst Recommendations for Open Lending (NASDAQ:LPRO)

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