Open Lending (NASDAQ:LPRO) Trading Down 5.3% - What's Next?

Open Lending Co. (NASDAQ:LPRO - Get Free Report) shares were down 5.3% on Friday . The stock traded as low as $5.73 and last traded at $5.76. Approximately 86,682 shares traded hands during trading, a decline of 79% from the average daily volume of 414,385 shares. The stock had previously closed at $6.08.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Open Lending presently has an average rating of "Hold" and a consensus price target of $6.83.

Open Lending Stock Performance

The business's fifty day moving average is $6.01 and its two-hundred day moving average is $5.91. The stock has a market capitalization of $682.68 million, a PE ratio of 190.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Open Lending by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company's stock valued at $230,000 after purchasing an additional 2,631 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Open Lending by 7.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company's stock valued at $263,000 after buying an additional 3,000 shares during the period. QRG Capital Management Inc. lifted its position in Open Lending by 24.4% in the third quarter. QRG Capital Management Inc. now owns 18,148 shares of the company's stock worth $111,000 after buying an additional 3,561 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Open Lending during the second quarter worth $33,000. Finally, Verition Fund Management LLC boosted its stake in Open Lending by 27.4% during the third quarter. Verition Fund Management LLC now owns 28,558 shares of the company's stock worth $175,000 after buying an additional 6,150 shares during the period. 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.