Open Lending (NASDAQ:LPRO) Hits New 52-Week Low – Here’s What Happened

Open Lending Co. (NASDAQ:LPRO) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $4.27 and last traded at $4.35, with a volume of 184869 shares trading hands. The stock had previously closed at $4.50.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Open Lending Stock Down 3.0 %

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 firm has a market cap of $520.96 million, a P/E ratio of 145.83 and a beta of 1.25. The firm’s 50-day moving average price is $5.44 and its 200 day moving average price is $5.76.

Institutional Investors Weigh In On Open Lending

Institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Open Lending by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,743 shares of the company’s stock worth $1,210,000 after purchasing an additional 34,740 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Open Lending by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 28,777 shares of the company’s stock worth $172,000 after buying an additional 9,468 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Open Lending by 69.2% in the 4th quarter. Quantinno Capital Management LP now owns 18,736 shares of the company’s stock valued at $112,000 after acquiring an additional 7,664 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Open Lending by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company’s stock valued at $890,000 after purchasing an additional 5,264 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Open Lending by 52.2% during the 4th quarter. Deutsche Bank AG now owns 95,160 shares of the company’s stock worth $568,000 after acquiring an additional 32,634 shares in the last quarter. 78.06% of the stock is currently owned by 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.