Open Lending Corporation (NASDAQ:LPRO) Receives Consensus Recommendation of “Hold” from Analysts

Open Lending Corporation (NASDAQ:LPRO) has received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.9167.

LPRO has been the subject of a number of analyst reports. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. DA Davidson reiterated a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a report on Thursday, November 13th.

Insider Buying and Selling at Open Lending

In other news, insider Matthew Sather purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $1.52 per share, for a total transaction of $60,800.00. Following the completion of the acquisition, the insider owned 44,363 shares in the company, valued at $67,431.76. This trade represents a 916.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Open Lending

Large investors have recently made changes to their positions in the business. Ethos Financial Group LLC boosted its holdings in shares of Open Lending by 21.0% in the 2nd quarter. Ethos Financial Group LLC now owns 3,567,723 shares of the company’s stock worth $6,921,000 after buying an additional 618,952 shares during the last quarter. LB Partners LLC bought a new stake in Open Lending in the second quarter worth about $9,799,000. Palogic Value Management L.P. boosted its stake in Open Lending by 440.0% in the second quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock valued at $11,446,000 after acquiring an additional 4,807,323 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Open Lending during the 2nd quarter valued at approximately $136,000. Finally, Ballentine Partners LLC bought a new position in shares of Open Lending during the 2nd quarter valued at approximately $40,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Performance

NASDAQ LPRO opened at $1.99 on Wednesday. The company has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $2.00. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.73. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74. The company has a market cap of $235.20 million, a P/E ratio of -1.59 and a beta of 2.00.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $24.17 million for the quarter, compared to analyst estimates of $22.15 million. Sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current fiscal year.

Open Lending Company Profile

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.