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

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.83.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd.

Open Lending Stock Down 0.3 %

NASDAQ:LPRO opened at $5.87 on Friday. The company has a market cap of $700.58 million, a price-to-earnings ratio of 195.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70. 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 has a fifty day simple moving average of $6.04 and a 200-day simple moving average of $5.91.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in Open Lending in the second quarter worth about $33,000. Blue Trust Inc. raised its holdings in shares of Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after purchasing an additional 7,093 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Open Lending in the 3rd quarter valued at about $68,000. SlateStone Wealth LLC purchased a new stake in shares of Open Lending in the 2nd quarter worth approximately $70,000. Finally, Intech Investment Management LLC bought a new position in shares of Open Lending during the third quarter valued at approximately $91,000. 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.