Open Lending (NASDAQ:LPRO) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of Open Lending (NASDAQ:LPRO) from a buy rating to a hold rating in a report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $3.70 price target on the stock, down from their previous price target of $8.00.

Separately, Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.39.

Open Lending Stock Performance

LPRO stock opened at $3.26 on Thursday. The business’s fifty day moving average is $5.15 and its 200-day moving average is $5.65. 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 company has a market cap of $389.08 million, a P/E ratio of 108.67 and a beta of 1.25. Open Lending has a twelve month low of $2.95 and a twelve month high of $6.97.

Institutional Trading of Open Lending

Large investors have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Open Lending by 363.5% in the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after buying an additional 132,561 shares in the last quarter. Royce & Associates LP increased its position in shares of Open Lending by 61.3% in the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock valued at $4,639,000 after buying an additional 295,395 shares in the last quarter. State Street Corp increased its position in shares of Open Lending by 2.6% in the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after buying an additional 63,450 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Open Lending in the 3rd quarter valued at $1,153,000. Finally, King Luther Capital Management Corp increased its position in shares of Open Lending by 100.0% in the 3rd quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock valued at $1,224,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

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.