Open Lending (NASDAQ:LPRO) Trading Up 5.3%

Open Lending Co. (NASDAQ:LPRO)’s stock price traded up 5.3% during trading on Tuesday . The company traded as high as $5.84 and last traded at $5.80. 43,607 shares were traded during trading, a decline of 90% from the average session volume of 442,277 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LPRO shares. DA Davidson dropped their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Needham & Company LLC downgraded Open Lending from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. BTIG Research started coverage on shares of Open Lending in a research report on Friday, June 7th. They set a “neutral” rating on the stock. JMP Securities dropped their price objective on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Open Lending presently has a consensus rating of “Hold” and a consensus target price of $6.56.

Open Lending Stock Up 2.4 %

The firm’s fifty day simple moving average is $5.73 and its 200 day simple moving average is $5.88. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The company has a market cap of $713.80 million, a price-to-earnings ratio of 54.45 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $26.73 million for the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. Open Lending’s revenue for the quarter was down 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. Sell-side analysts predict that Open Lending Co. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in Open Lending in the second quarter valued at $33,000. Point72 Asset Management L.P. acquired a new stake in shares of Open Lending during the second quarter worth about $110,000. Algert Global LLC lifted its holdings in shares of Open Lending by 3.7% in the 2nd quarter. Algert Global LLC now owns 398,913 shares of the company’s stock valued at $2,226,000 after purchasing an additional 14,191 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Open Lending by 100.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $112,000 after purchasing an additional 10,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Open Lending by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock worth $230,000 after buying an additional 2,631 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.