Open Lending Co. (NASDAQ:LPRO) Receives Average Recommendation of "Hold" from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) have earned a consensus rating of "Hold" from the nine analysts that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.56.

A number of research analysts have commented on LPRO shares. Morgan Stanley reduced their target price on Open Lending from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd. DA Davidson reduced their price target on shares of Open Lending from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Finally, JMP Securities lowered their price objective on shares of Open Lending from $8.00 to $7.00 and set a "market outperform" rating for the company in a research report on Friday, August 9th.

Open Lending Stock Up 3.0 %

Open Lending stock traded up $0.17 during midday trading on Friday, hitting $5.77. 303,145 shares of the stock were exchanged, compared to its average volume of 422,532. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. The company has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $5.76. The firm has a market cap of $688.07 million, a P/E ratio of 140.04 and a beta of 1.12. Open Lending has a 1 year low of $4.57 and a 1 year high of $8.70.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The business had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. During the same quarter last year, the business earned $0.09 EPS. Open Lending's revenue for the quarter was down 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Open Lending will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of Open Lending

A number of large investors have recently added to or reduced their stakes in the business. SpiderRock Advisors LLC bought a new stake in shares of Open Lending during the 1st quarter worth $166,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Open Lending by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,974 shares of the company's stock worth $1,446,000 after purchasing an additional 22,139 shares in the last quarter. Sei Investments Co. raised its holdings in Open Lending by 14.5% during the 1st quarter. Sei Investments Co. now owns 486,893 shares of the company's stock worth $3,048,000 after buying an additional 61,647 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Open Lending by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company's stock valued at $67,337,000 after buying an additional 51,276 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Open Lending by 24.0% in the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company's stock worth $81,000 after acquiring an additional 2,824 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.