Open Lending (NASDAQ:LPRO) Trading 8.8% Higher – Should You Buy?

Shares of Open Lending Co. (NASDAQ:LPRO) rose 8.8% during trading on Tuesday . The stock traded as high as $6.32 and last traded at $6.32. Approximately 165,427 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 413,838 shares. The stock had previously closed at $5.81.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.83.

Open Lending Stock Up 12.9 %

The stock has a market cap of $782.94 million, a price-to-earnings ratio of 193.67, a PEG ratio of 2.64 and a beta of 1.16. The stock has a 50 day simple moving average of $6.01 and a 200 day simple moving average of $5.91. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Trading of Open Lending

Several hedge funds have recently bought and sold shares of LPRO. Barclays PLC grew its holdings in shares of Open Lending by 363.5% during the third 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 during the last quarter. Geode Capital Management LLC lifted its position in Open Lending by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after acquiring an additional 68,721 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in Open Lending during the 3rd quarter valued at about $845,000. State Street Corp increased its holdings in Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after purchasing an additional 63,450 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Open Lending in the third quarter worth approximately $68,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.