Open Lending (NASDAQ:LPRO) Research Coverage Started at Citizens Jmp

Citizens Jmp began coverage on shares of Open Lending (NASDAQ:LPRO) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued a market perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. DA Davidson reduced their price objective on shares of Open Lending from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Needham & Company LLC reduced their price target on Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.62.

Open Lending Stock Performance

Shares of Open Lending stock opened at $1.02 on Friday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $4.58 and its 200-day moving average price is $5.42. The firm has a market cap of $121.74 million, a P/E ratio of 34.00 and a beta of 1.57. Open Lending has a 12 month low of $1.02 and a 12 month high of $6.97.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The business had revenue of $24.23 million for the quarter, compared to the consensus estimate of $24.03 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. On average, equities research analysts expect that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in shares of Open Lending by 0.6% during the fourth quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after acquiring an additional 105,449 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Open Lending by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after purchasing an additional 920,630 shares in the last quarter. Vanguard Group Inc. increased its stake in Open Lending by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock valued at $60,768,000 after purchasing an additional 160,617 shares in the last quarter. State Street Corp raised its holdings in shares of Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after buying an additional 63,450 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Open Lending by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock worth $14,293,000 after buying an additional 28,253 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other 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.