Brokerages Set Open Lending Co. (NASDAQ:LPRO) Price Target at $6.83

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) have been given a consensus rating of "Hold" by the seven ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.83.

Several research firms have commented on LPRO. Needham & Company LLC reiterated a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on Open Lending from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. JMP Securities lowered their price objective on 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. Finally, DA Davidson cut their target price on Open Lending from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, August 12th.

Institutional Investors Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of LPRO. The Manufacturers Life Insurance Company grew its holdings in shares of Open Lending by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company's stock worth $230,000 after acquiring an additional 2,631 shares during the period. 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 valued at $81,000 after buying an additional 2,824 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Open Lending by 7.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company's stock worth $263,000 after buying an additional 3,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Open Lending in the 2nd quarter valued at about $33,000. Finally, Verition Fund Management LLC grew its stake in Open Lending by 27.4% in the 3rd quarter. Verition Fund Management LLC now owns 28,558 shares of the company's stock valued at $175,000 after acquiring an additional 6,150 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Open Lending Stock Down 1.9 %

LPRO stock traded down $0.12 during mid-day trading on Tuesday, reaching $6.36. The company had a trading volume of 267,675 shares, compared to its average volume of 424,957. The firm has a fifty day simple moving average of $5.98 and a 200 day simple moving average of $5.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The company has a market capitalization of $759.07 million, a price-to-earnings ratio of 216.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.13. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.70.

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.