Open Lending (NASDAQ:LPRO) Research Coverage Started at Stephens

Stephens started coverage on shares of Open Lending (NASDAQ:LPRO) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $2.50 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Citizens Jmp started coverage on Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating on the stock. Needham & Company LLC upped their price objective on Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Friday, May 9th. Jefferies Financial Group cut shares of Open Lending from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Finally, DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of Open Lending in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.12.

Open Lending Trading Down 4.6%

Open Lending stock opened at $2.06 on Thursday. The firm has a 50 day moving average of $1.55 and a 200 day moving average of $3.81. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.92. 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 market capitalization of $246.75 million, a price-to-earnings ratio of 68.67 and a beta of 1.94.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The business had revenue of $24.39 million for the quarter, compared to analyst estimates of $24.78 million. As a group, research analysts predict that Open Lending will post 0.1 earnings per share for the current year.

Insider Activity at Open Lending

In related news, CEO Jessica E. Buss purchased 12,975 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $1.93 per share, with a total value of $25,041.75. Following the purchase, the chief executive officer now owns 46,446 shares of the company’s stock, valued at $89,640.78. This represents a 38.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LPRO. Summit Securities Group LLC purchased a new position in Open Lending in the 1st quarter valued at about $32,000. Teacher Retirement System of Texas purchased a new position in Open Lending in the 1st quarter valued at about $41,000. Dynamic Technology Lab Private Ltd purchased a new position in Open Lending in the 1st quarter valued at about $43,000. Quantbot Technologies LP purchased a new position in Open Lending in the 4th quarter worth approximately $54,000. Finally, Caxton Associates LLP purchased a new position in Open Lending in the 1st quarter worth approximately $54,000. 78.06% of the stock is 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.