Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) fell 4.4% during trading on Thursday . The stock traded as low as $5.71 and last traded at $5.71. 61,635 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 412,722 shares. The stock had previously closed at $5.97.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC reiterated a "hold" rating on shares of Open Lending in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.83.
View Our Latest Analysis on Open Lending
Open Lending Stock Performance
The stock has a 50-day moving average of $6.07 and a 200 day moving average of $5.86. 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 firm has a market capitalization of $681.49 million, a P/E ratio of 190.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16.
Institutional Trading of Open Lending
Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in Open Lending by 363.5% in the 3rd quarter. Barclays PLC now owns 169,024 shares of the company's stock worth $1,034,000 after purchasing an additional 132,561 shares during the last quarter. EVR Research LP acquired a new stake in shares of Open Lending in the 2nd quarter valued at $2,758,000. King Luther Capital Management Corp bought a new stake in shares of Open Lending during the second quarter worth $558,000. Royce & Associates LP lifted its stake in shares of Open Lending by 152.1% during the third quarter. Royce & Associates LP now owns 481,640 shares of the company's stock valued at $2,948,000 after acquiring an additional 290,602 shares during the period. Finally, State Street Corp boosted its holdings in Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company's stock valued at $15,580,000 after acquiring an additional 63,450 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
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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