Open Lending (NASDAQ:LPRO) Rating Lowered to “Hold” at Northland Securities

Open Lending (NASDAQ:LPRO) was downgraded by equities researchers at Northland Securities from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on LPRO. Canaccord Genuity Group reiterated a “hold” rating and set a $2.00 target price on shares of Open Lending in a report on Tuesday, March 17th. DA Davidson dropped their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Wall Street Zen downgraded Open Lending from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and a consensus target price of $2.60.

Open Lending Stock Performance

Open Lending stock opened at $3.11 on Tuesday. The stock’s 50-day moving average is $1.90 and its 200-day moving average is $1.71. The company has a market cap of $365.98 million, a price-to-earnings ratio of -77.75 and a beta of 2.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. Open Lending has a 12 month low of $1.17 and a 12 month high of $3.13.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01). The company had revenue of $20.49 million for the quarter, compared to analysts’ expectations of $20.41 million. Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. Equities analysts anticipate that Open Lending will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently bought and sold shares of LPRO. D.A. Davidson & CO. purchased a new stake in Open Lending during the 4th quarter worth approximately $28,000. Prudential Financial Inc. purchased a new stake in Open Lending during the 2nd quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in Open Lending during the 1st quarter worth approximately $43,000. R Squared Ltd increased its holdings in Open Lending by 32.7% during the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Open Lending during the 2nd quarter worth approximately $44,000. 78.06% of the stock is currently 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.