Open Lending (NASDAQ:LPRO) Trading Down 5.1% - Should You Sell?

Open Lending Co. (NASDAQ:LPRO - Get Free Report) shares dropped 5.1% during trading on Friday . The stock traded as low as $6.02 and last traded at $6.05. Approximately 212,112 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 360,305 shares. The stock had previously closed at $6.37.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised Open Lending from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Open Lending has an average rating of "Moderate Buy" and a consensus target price of $6.83.

Open Lending Stock Up 7.4 %

The firm has a market cap of $784.13 million, a price-to-earnings ratio of 219.00 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. The stock's 50 day moving average is $5.78 and its 200 day moving average is $5.81.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The firm had revenue of $23.48 million during the quarter, compared to the consensus estimate of $29.46 million. During the same period in the prior year, the firm posted $0.02 EPS. Analysts forecast that Open Lending Co. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Open Lending in the fourth quarter worth about $25,000. Cubist Systematic Strategies LLC acquired a new position in Open Lending in the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its position in Open Lending by 208.2% during the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company's stock worth $59,000 after purchasing an additional 7,093 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Open Lending during the 3rd quarter valued at $68,000. Finally, Intech Investment Management LLC acquired a new stake in Open Lending during the 3rd quarter valued at $91,000. 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.