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

Open Lending Co. (NASDAQ:LPRO) has been given an average recommendation of “Hold” by the nine analysts that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.07.

LPRO has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Open Lending in a research note on Wednesday, February 28th. Raymond James reissued an “outperform” rating and set a $8.00 target price on shares of Open Lending in a research note on Tuesday. Canaccord Genuity Group lowered their target price on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a research note on Tuesday.

Insiders Place Their Bets

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $7.60, for a total transaction of $380,000.00. Following the completion of the sale, the director now directly owns 2,129,666 shares of the company’s stock, valued at approximately $16,185,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 200,000 shares of company stock valued at $1,501,500 in the last ninety days. Insiders own 17.10% of the company’s stock.

Institutional Trading of Open Lending

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. lifted its holdings in shares of Open Lending by 10.2% in the 2nd quarter. Prudential Financial Inc. now owns 13,986 shares of the company’s stock valued at $143,000 after purchasing an additional 1,300 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Open Lending by 51.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after purchasing an additional 1,591 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Open Lending by 1.1% in the 3rd quarter. Swiss National Bank now owns 172,450 shares of the company’s stock valued at $1,262,000 after purchasing an additional 1,800 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Open Lending by 14.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,993 shares of the company’s stock valued at $153,000 after purchasing an additional 1,913 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock valued at $130,000 after purchasing an additional 2,090 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Trading Up 1.3 %

Shares of NASDAQ LPRO opened at $6.19 on Thursday. Open Lending has a twelve month low of $4.89 and a twelve month high of $11.99. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $7.34 and a 200-day simple moving average of $7.12. The stock has a market capitalization of $735.87 million, a PE ratio of 36.41 and a beta of 1.01.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The firm had revenue of $14.90 million during the quarter, compared to analyst estimates of $27.55 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was down 44.4% compared to the same quarter last year. On average, equities analysts forecast that Open Lending will post 0.28 earnings per share for the current year.

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.