Open Lending (NASDAQ:LPRO) Stock Price Down 4.4% – Time to Sell?

Open Lending Co. (NASDAQ:LPRO) was down 4.4% during mid-day trading on Thursday . The company traded as low as $5.71 and last traded at $5.71. Approximately 61,635 shares changed hands during trading, a decline of 85% from the average daily volume of 412,722 shares. The stock had previously closed at $5.97.

Wall Street Analysts Forecast Growth

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

Open Lending Stock Performance

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 firm has a fifty day moving average price of $6.07 and a 200 day moving average price of $5.86. The firm has a market cap of $675.52 million, a PE ratio of 188.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16.

Hedge Funds Weigh In On Open Lending

Hedge funds have recently modified their holdings of the business. Wasatch Advisors LP boosted its position in shares of Open Lending by 1.4% during the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after buying an additional 222,969 shares during the period. State Street Corp grew its position in Open Lending by 2.6% in the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after acquiring an additional 63,450 shares in the last quarter. Geode Capital Management LLC increased its stake in Open Lending by 3.0% during the third quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock worth $14,478,000 after purchasing an additional 68,721 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Open Lending by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after purchasing an additional 31,434 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Open Lending by 9.4% in the second quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock valued at $2,973,000 after purchasing an additional 45,959 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.