Traders Purchase Large Volume of Call Options on Open Lending (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO - Get Free Report) was the target of unusually large options trading activity on Monday. Stock traders acquired 5,288 call options on the stock. This represents an increase of 2,418% compared to the typical daily volume of 210 call options.

Institutional Investors Weigh In On Open Lending

Several hedge funds have recently bought and sold shares of LPRO. R Squared Ltd purchased a new position in shares of Open Lending during the fourth quarter valued at approximately $25,000. Quantbot Technologies LP bought a new position in shares of Open Lending during the 4th quarter valued at $54,000. Quantinno Capital Management LP bought a new position in shares of Open Lending during the 3rd quarter valued at $68,000. Ameriprise Financial Inc. purchased a new position in shares of Open Lending in the 4th quarter worth $80,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Open Lending in the fourth quarter worth $87,000. Institutional investors own 78.06% of the company's stock.

Open Lending Trading Down 7.1 %

Shares of NASDAQ:LPRO traded down $0.09 on Friday, reaching $1.12. 453,883 shares of the company traded hands, compared to its average volume of 606,723. The stock has a market capitalization of $133.08 million, a P/E ratio of 37.17 and a beta of 1.57. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $4.66 and its 200 day simple moving average is $5.46. Open Lending has a 52 week low of $1.11 and a 52 week high of $6.97.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($1.23). The business had revenue of $24.23 million during the quarter, compared to the consensus estimate of $24.03 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, equities analysts anticipate that Open Lending will post 0.1 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LPRO. DA Davidson reduced their price objective on Open Lending from $8.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday. Citizens Jmp assumed coverage on shares of Open Lending in a research note on Friday. They issued a "market perform" rating on the stock. Jefferies Financial Group downgraded shares of Open Lending from a "buy" rating to a "hold" rating and reduced their target price for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Finally, Needham & Company LLC lowered their price target on shares of Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Open Lending has a consensus rating of "Hold" and an average price target of $4.62.

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.