Analysts Set Open Lending Corporation (NASDAQ:LPRO) PT at $2.77

Open Lending Corporation (NASDAQ:LPRO) has received an average rating of “Reduce” from the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.7667.

LPRO has been the subject of a number of recent research reports. DA Davidson reissued a “neutral” rating and issued a $3.15 price objective (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Northland Securities set a $3.15 target price on shares of Open Lending in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Open Lending to a “sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th.

Open Lending Stock Performance

LPRO stock opened at $3.14 on Thursday. The firm has a fifty day moving average price of $3.14 and a 200 day moving average price of $2.24. Open Lending has a fifty-two week low of $1.17 and a fifty-two week high of $3.15. The firm has a market cap of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd increased its position in Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after acquiring an additional 7,047 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Open Lending by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock worth $310,000 after acquiring an additional 9,590 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Open Lending during the 2nd quarter worth about $33,000. AQR Capital Management LLC boosted its stake in shares of Open Lending by 84.0% during the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the period. Finally, Pallas Capital Advisors LLC bought a new position in Open Lending during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.