Open Lending Corporation (NASDAQ:LPRO) Receives Average Rating of “Hold” from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has been given an average rating of “Hold” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $2.9167.

LPRO has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Open Lending in a research report on Tuesday, November 11th. Finally, Citigroup reissued a “market perform” rating on shares of Open Lending in a report on Wednesday, November 12th.

Open Lending Stock Up 0.4%

LPRO stock opened at $1.36 on Friday. The business has a 50 day moving average of $1.76 and a 200 day moving average of $1.91. The firm has a market cap of $160.74 million, a PE ratio of -1.09 and a beta of 2.03. Open Lending has a twelve month low of $0.70 and a twelve month high of $5.86. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74.

Insider Buying and Selling

In related news, insider Matthew Sather bought 40,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $1.52 per share, for a total transaction of $60,800.00. Following the purchase, the insider owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. The trade was a 916.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LPRO. Wasatch Advisors LP boosted its holdings in Open Lending by 3.6% in the third quarter. Wasatch Advisors LP now owns 6,406,790 shares of the company’s stock worth $13,518,000 after purchasing an additional 224,183 shares during the last quarter. Palogic Value Management L.P. grew its holdings in shares of Open Lending by 440.0% in the second quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock worth $11,446,000 after acquiring an additional 4,807,323 shares during the period. LB Partners LLC bought a new stake in shares of Open Lending in the second quarter worth $9,799,000. Portolan Capital Management LLC purchased a new stake in Open Lending during the third quarter valued at $7,752,000. Finally, Cannell Capital LLC lifted its holdings in Open Lending by 87.1% in the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock valued at $6,977,000 after acquiring an additional 1,674,646 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

About Open Lending

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.