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

Open Lending Co. (NASDAQ:LPRO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.39.

Several equities research analysts have issued reports on LPRO shares. Needham & Company LLC raised Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a report on Wednesday, January 29th. Jefferies Financial Group lowered shares of Open Lending from a "buy" rating to a "hold" rating and dropped their price objective for the company from $8.00 to $3.70 in a research report on Thursday.

Open Lending Stock Performance

NASDAQ:LPRO traded up $0.18 on Thursday, hitting $3.26. The company's stock had a trading volume of 1,760,552 shares, compared to its average volume of 429,260. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a one year low of $2.95 and a one year high of $6.97. The stock has a fifty day moving average of $5.15 and a two-hundred day moving average of $5.65. The firm has a market capitalization of $389.08 million, a P/E ratio of 108.67 and a beta of 1.25.

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Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Open Lending by 20.7% during the fourth 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 acquiring an additional 34,740 shares during the period. ProShare Advisors LLC increased its holdings in shares of Open Lending by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,777 shares of the company's stock worth $172,000 after purchasing an additional 9,468 shares during the period. Quantinno Capital Management LP raised its position in shares of Open Lending by 69.2% in the fourth quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock valued at $112,000 after buying an additional 7,664 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Open Lending by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company's stock valued at $890,000 after buying an additional 5,264 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Open Lending by 52.2% in the fourth quarter. Deutsche Bank AG now owns 95,160 shares of the company's stock valued at $568,000 after buying an additional 32,634 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

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.