Open Lending (NASDAQ:LPRO) Stock Price Down 4.7% – Here’s What Happened

Open Lending Corporation (NASDAQ:LPRO) fell 4.7% on Friday . The stock traded as low as $1.58 and last traded at $1.61. 1,158,493 shares were traded during trading, an increase of 154% from the average session volume of 455,269 shares. The stock had previously closed at $1.69.

Analyst Ratings Changes

A number of research firms have recently commented on LPRO. Canaccord Genuity Group dropped their price objective on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Tuesday, November 11th. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.92.

Open Lending Stock Down 4.7%

The firm has a market capitalization of $190.29 million, a price-to-earnings ratio of -1.29 and a beta of 2.04. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a fifty day moving average of $1.76 and a two-hundred day moving average of $2.04.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $24.17 million during the quarter, compared to the consensus estimate of $22.15 million. Sell-side analysts anticipate that Open Lending Corporation will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other Open Lending news, insider Matthew Sather bought 40,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $1.52 per share, for a total transaction of $60,800.00. Following the acquisition, the insider directly owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. The trade was a 916.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Open Lending

A number of institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in Open Lending in the 2nd quarter worth approximately $28,000. Prudential Financial Inc. purchased a new stake in shares of Open Lending in the 2nd quarter worth about $28,000. Brighton Jones LLC purchased a new stake in Open Lending in the second quarter worth about $30,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Open Lending in the 2nd quarter valued at approximately $32,000. Finally, Blair William & Co. IL bought a new stake in Open Lending during the second quarter worth about $39,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.