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

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.56.

Several equities research analysts recently commented on LPRO shares. Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Morgan Stanley cut their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. JMP Securities cut their price target on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, DA Davidson cut their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

Open Lending Price Performance

Shares of LPRO opened at $5.73 on Monday. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70. The firm’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $5.77. The firm has a market capitalization of $683.30 million, a price-to-earnings ratio of 143.29 and a beta of 1.12. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The firm had revenue of $26.73 million during the quarter, compared to analyst estimates of $31.03 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. Open Lending’s revenue for the quarter was down 29.9% compared to the same quarter last year. Equities analysts forecast that Open Lending will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Open Lending in the second quarter valued at $33,000. SlateStone Wealth LLC purchased a new stake in shares of Open Lending in the second quarter valued at about $70,000. QRG Capital Management Inc. boosted its holdings in shares of Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after acquiring an additional 2,824 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Open Lending in the second quarter valued at about $110,000. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Open Lending by 100.0% in the second quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $112,000 after acquiring an additional 10,000 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.