Open Lending Co. (NASDAQ:LPRO) Receives $6.83 Consensus Target Price from Analysts

Open Lending Co. (NASDAQ:LPRO) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.83.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On Open Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Open Lending by 363.5% in the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after purchasing an additional 132,561 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $14,478,000 after buying an additional 68,721 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Open Lending in the third quarter worth about $845,000. State Street Corp boosted its stake in shares of 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 acquiring an additional 63,450 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Open Lending during the 3rd quarter valued at about $68,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 2.4 %

NASDAQ:LPRO opened at $5.86 on Friday. The stock has a market cap of $699.39 million, a PE ratio of 195.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The stock’s 50-day moving average is $6.04 and its two-hundred day moving average is $5.88.

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.