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

Shares of Open Lending Co. (NASDAQ:LPRO) have received an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat 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 1-year price target among analysts that have issued ratings on the stock in the last year is $6.56.

Several equities analysts recently issued reports on LPRO shares. DA Davidson lowered their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Morgan Stanley lowered their price objective on Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. BTIG Research began coverage on Open Lending in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC cut Open Lending from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, JMP Securities lowered their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently modified their holdings of LPRO. New York State Common Retirement Fund increased its stake in shares of Open Lending by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 42,857 shares of the company’s stock worth $365,000 after purchasing an additional 4,745 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after buying an additional 2,090 shares in the last quarter. Victory Capital Management Inc. increased its stake in Open Lending by 27.3% in the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after buying an additional 2,971 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Open Lending by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock worth $6,606,000 after buying an additional 9,957 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Open Lending by 29.7% in the 4th quarter. Principal Financial Group Inc. now owns 52,488 shares of the company’s stock worth $447,000 after buying an additional 12,021 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Stock Performance

Shares of LPRO opened at $5.51 on Thursday. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $5.71 and its 200-day moving average price is $5.89. Open Lending has a 52 week low of $4.57 and a 52 week high of $8.70. The stock has a market cap of $656.60 million, a P/E ratio of 50.09 and a beta of 1.12.

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

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.