Open Lending Co. (NASDAQ:LPRO) Given Average Recommendation of "Hold" by Analysts

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) have been given an average rating of "Hold" by the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.83.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd.

Open Lending Price Performance

Shares of Open Lending stock traded down $0.02 during trading on Friday, hitting $5.87. 824,483 shares of the company were exchanged, compared to its average volume of 417,515. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.70. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $6.04 and a 200 day moving average price of $5.91. The stock has a market capitalization of $700.58 million, a price-to-earnings ratio of 195.67, a P/E/G ratio of 2.46 and a beta of 1.16.

Institutional Investors Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in LPRO. Bank of New York Mellon Corp raised its stake in Open Lending by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company's stock worth $2,156,000 after purchasing an additional 41,792 shares during the period. SlateStone Wealth LLC acquired a new position in Open Lending in the second quarter valued at $70,000. Arizona State Retirement System grew its position in Open Lending by 32.2% during the second quarter. Arizona State Retirement System now owns 28,288 shares of the company's stock valued at $158,000 after acquiring an additional 6,896 shares during the period. Federated Hermes Inc. increased its stake in Open Lending by 9.2% during the second quarter. Federated Hermes Inc. now owns 95,418 shares of the company's stock worth $532,000 after acquiring an additional 8,010 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Open Lending by 48.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 108,951 shares of the company's stock worth $608,000 after purchasing an additional 35,435 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

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.