Jefferies Financial Group cut shares of Open Lending (NASDAQ:LPRO - Free Report) from a buy rating to a hold rating in a report published on Thursday, MarketBeat reports. The brokerage currently has $3.70 price objective on the stock, down from their previous price objective of $8.00.
Separately, Needham & Company LLC raised shares of Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.39.
Check Out Our Latest Stock Report on Open Lending
Open Lending Trading Up 1.2 %
Shares of LPRO stock traded up $0.04 during trading hours on Thursday, reaching $3.30. The company's stock had a trading volume of 1,177,990 shares, compared to its average volume of 432,257. 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 market capitalization of $393.86 million, a P/E ratio of 110.00 and a beta of 1.25. The firm's fifty day simple moving average is $5.12 and its 200 day simple moving average is $5.64.
Institutional Trading of Open Lending
A number of hedge funds have recently modified their holdings of LPRO. R Squared Ltd purchased a new position in Open Lending during the 4th quarter valued at about $25,000. Quantbot Technologies LP bought a new position in shares of Open Lending during the fourth quarter valued at approximately $54,000. Quantinno Capital Management LP purchased a new position in shares of Open Lending during the third quarter valued at approximately $68,000. Ameriprise Financial Inc. bought a new stake in shares of Open Lending in the 4th quarter worth approximately $80,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Open Lending in the 4th quarter worth approximately $87,000. Institutional investors own 78.06% of the company's stock.
About Open Lending
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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.
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